Published on 11/26/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $913,000 buffered market notes with 30% cap linked to S&P
By Susanna Moon
Chicago, Nov. 26 - HSBC USA Inc. priced $913,000 of 0% buffered market participation securities due Nov. 28, 2016 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, up to a maximum return of 30%.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
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: | $913,000
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Maturity date: | Nov. 28, 2016
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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 30%; par if index falls by up to 15%; 1% loss for every 1% drop beyond 15%
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Initial index level: | 1,795.85
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Pricing date: | Nov. 21
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Settlement date: | Nov. 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XMX6
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