Published on 10/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.43 million knock-out buffer notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 30 - HSBC USA Inc. priced $1.43 million of 0% knock-out buffer notes due Oct. 30, 2018 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 65% knock-out level, the payout at maturity will be par plus the greater of 1.355 times any index gain and the contingent minimum return of 0%.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the dealer
Issuer: | HSBC USA Inc.
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Issue: | Knock-out buffer notes
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Underlying index: | S&P 500
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Amount: | $1,426,000
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Maturity: | Oct. 30, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes below knock-out level, par plus index return; otherwise, par plus 135.5% of any gain, floor of par
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Initial index level: | 1,759.77
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Knock-out level: | 65% of initial level
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Pricing date: | Oct. 25
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Settlement date: | Oct. 30
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Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as dealer
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Fees: | 1%
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Cusip: | 40432XMQ1
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