Published on 10/28/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $35.9 million Leveraged Index Return Notes tied to the Dow
By Jennifer Chiou
New York, Oct. 28 - HSBC USA Inc. priced $35,899,900 of 0% Leveraged Index Return Notes due Oct. 26, 2018 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 119.5% of any index gain.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $35,899,900
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Maturity: | Oct. 26, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 119.5% of any index gain; par if index falls by up to 20%; 1% loss for every 1% drop beyond 20%
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Initial level: | 15,509.21
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Pricing date: | Oct. 24
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Settlement date: | Oct. 31
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40433X159
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