Published on 10/15/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $974,000 buffered market participation notes on S&P 500
By Jennifer Chiou
New York, Oct. 15 - HSBC USA Inc. priced $974,000 of 0% buffered market participation securities due Oct. 16, 2018 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 any index gain, subject to a maximum return of 50%.
Investors will receive par if the index falls by up to 40% and will lose 1% for every 1% decline beyond the 40% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered market participation securities
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Underlying index: | S&P 500
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Amount: | $974,000
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Maturity date: | Oct. 16, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, capped at 50%; par if index falls by up to 40%; 1% loss for every 1% index decline beyond 40%
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Initial index level: | 1,692.56
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Pricing date: | Oct. 10
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Settlement date: | Oct. 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XMD0
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