Published on 2/26/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.03 million averaging notes linked to indexes, ETF
By Angela McDaniels
Tacoma, Wash., Feb. 26 - HSBC USA Inc. priced $2.03 million of 0% averaging notes due Aug. 28, 2018 linked to an equally weighted basket consisting of the S&P 500 index, the MSCI Singapore Free index and the WisdomTree India Earning fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the basket return, subject to a minimum payout of par.
Each basket component's final level will be the average of its closing levels on 22 quarterly observation dates.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Averaging notes
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Underlying basket: | S&P 500 index, MSCI Singapore Free index and WisdomTree India Earning fund, equally weighted
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Amount: | $2.03 million
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Maturity: | Aug. 28, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus basket return, subject to minimum payout of par
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Final level: | Average of basket component's closing levels on 22 quarterly observation dates
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Trade date: | Feb. 22
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.025%
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Cusip: | 40432XBQ3
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