Published on 2/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.55 million performance plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 25 - HSBC USA Inc. priced $1.55 million of 0% buffered performance plus securities due Feb. 27, 2017 linked to S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 100% of the initial index level, the payout at maturity will be par plus the greater of the index return and 13%. 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 performance plus securities
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Underlying index: | S&P 500
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Amount: | $1,547,000
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Maturity date: | Feb. 27, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is at least 100% of initial index level, par plus greater of index return and 13%; par if index declines by 15% or less; 1% decline for every 1% that index declines beyond 15%
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Initial index level: | 1,502.42
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Pricing date: | Feb. 21
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Settlement date: | Feb. 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.4%
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Cusip: | 40432XAF8
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