Published on 11/13/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.71 million buffered uncapped market notes linked to S&P
By Susanna Moon
Chicago, Nov. 13 - HSBC USA Inc. priced $1.71 million of 0% buffered uncapped market participation securities due Nov. 14, 2017 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 gain in the index.
Investors will receive par if the index falls by up to 30% and will lose 1.9% for every 1% decline beyond 30%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $1,707,000
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Maturity date: | Nov. 14, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 30%; 1.9% loss for every 1% drop beyond 30%
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Initial index level: | 1,770.61
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Pricing date: | Nov. 8
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Settlement date: | Nov. 14
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XMM0
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