Published on 1/29/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.17 million capped return enhanced notes linked to S&P 500
By Susanna Moon
Chicago, Jan. 29 - HSBC USA Inc. priced $3.17 million of 0% return enhanced notes due Feb. 12, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 16.5%.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,174,000
|
| Maturity: | Feb. 12, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 16.5%; exposure to any losses
|
| Initial level: | 1,502.96
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 40432XAA9
|
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