Published on 12/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $802,000 buffered market participation notes linked to S&P
By Angela McDaniels
Tacoma, Wash., Dec. 30 - HSBC USA Inc. priced $802,000 of 0% buffered market participation securities due Jan. 3, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return, subject to a maximum return of 28.5%. Investors will receive par if the index declines by 15% or less and will lose 1% for every 1% that it declines 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: | $802,000
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Maturity date: | Jan. 3, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain, up to 28.5% maximum return; par if index falls by up to 15%; 1% loss for every 1% that index declines beyond 15%
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Initial index level: | 1,842.02
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XP39
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