By Susanna Moon
Chicago, Jan. 29 - HSBC USA Inc. priced $908,000 of 0% buffered Accelerated Market Participation Securities due July 30, 2014 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 11.5%.
Investors will receive par if the shares fall by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying fund: | SPDR S&P Homebuilders ETF
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Amount: | $908,000
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Maturity: | July 30, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any fund gain, capped at 11.5%; par if shares fall by 10% or less; 1% loss for every 1% drop beyond 10%
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Initial level: | $29.12
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40432X6N6
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