Published on 12/2/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $37.05 million Mitts tied to Dow Jones industrial average
By Jennifer Chiou
New York, Dec. 2 - HSBC USA Inc. priced $37,045,870 of 0% Market Index Target-Term Securities due Nov. 25, 2020 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus the lesser of the index return and 64.75%. If the index return is zero or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Market Index Target-Term Securities
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Underlying index: | Dow Jones industrial average
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Amount: | $37,045,870
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Maturity: | Nov. 25, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus index return, subject to minimum payout of par and maximum payout of 164.75% of par
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Initial index level: | 16,072.80
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Final index level: | Average of index's closing levels on the five trading days ending Nov. 20, 2020
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Pricing date: | Nov. 26
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Settlement date: | Dec. 3
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Underwriter: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434B867
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