Published on 12/20/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $100,000 50/140 performance securities linked to PowerShares S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., Dec. 20 - HSBC USA Inc. priced $100,000 of 0% 50/140 performance securities due Dec. 24, 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 ETF return is flat or positive, the payout at maturity will be par plus 140% of the ETF return.
If the ETF return is negative, investors will lose 0.5% for every 1% that the ETF declines.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | 50/140 performance securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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Amount: | $100,000
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Maturity: | Dec. 24, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF stays flat or gains, par plus 140% of ETF return; otherwise, 0.5% loss for every 1% that ETF declines
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Initial share price: | $32.95
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Pricing date: | Dec. 19
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Settlement date: | Dec. 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | Up to 3%
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Cusip: | 40432XQZ7
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