Published on 12/2/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $240,000 leveraged performance notes on PowerShares S&P Low Volatility
By Angela McDaniels
Tacoma, Wash., Dec. 2 - HSBC USA Inc. priced $240,000 of 0% leveraged performance securities due Nov. 29, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 1.4% for every 1% that the fund increases. If the fund return is negative, investors will lose 0.5% for every 1% that the fund declines.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged performance securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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Amount: | $240,000
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Maturity: | Nov. 29, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.4% for every 1% that fund increases; otherwise, par minus 0.5% for every 1% that fund declines
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Initial share price: | $32.95
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Pricing date: | Nov. 26
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Settlement date: | Nov. 29
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40432XNR8 |
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