Published on 9/25/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.54 million buffered performance plus notes on S&P 500
By Toni Weeks
San Diego, Sept. 25 - HSBC USA Inc. priced $1.54 million of 0% buffered performance plus securities due Sept. 28, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of any gain and the minimum upside return of 20%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered performance plus securities
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Underlying index: | S&P 500
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Amount: | $1,541,000
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Maturity date: | Sept. 28, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index ends flat or gains, par plus the greater of return and 20%; par if index falls by up to 15%; 1% loss for every 1% index decline beyond 15%
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Initial index level: | 1,460.15
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Pricing date: | Sept. 21
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Settlement date: | Sept. 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 4042K13Z4
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