Published on 12/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $43.69 million Leveraged Index Return Notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Dec. 30 - HSBC USA Inc. priced $43.69 million of 0% Leveraged Index Return Notes due Jan. 7, 2019 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 110.5% of the index return. If the index declines by 20% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged Index Return Notes
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Underlying index: | Dow Jones industrial average
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Amount: | $43,688,930
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Maturity: | Jan. 7, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 110.5% of any index gain; par if index falls by up to 20%; 1% loss for every 1% drop beyond 20%
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Initial index level: | 16,294.61
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Final index level: | Average of index's closing levels on Dec. 26, 2018, Dec. 27, 2018, Dec. 28, 2018, Dec. 31, 2018 and Jan. 2, 2019
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Threshold value: | 13,035.69, or 80% of initial index level
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Pricing date: | Dec. 23
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Settlement date: | Dec. 31
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Agent: | BofA Merrill Lynch
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Fees: | 2.5%
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Cusip: | 40434B719
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