Published on 2/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $462,000 leveraged buffered uncapped notes on S&P 500 Low Volatility
By Marisa Wong
Madison, Wis., Feb. 27 - HSBC USA Inc. priced $462,000 of 0% leveraged buffered uncapped market participation securities due Feb. 28, 2017 linked to the S&P 500 Low Volatility index, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any index gain.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying index: | S&P 500 Low Volatility index
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Amount: | $462,000
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Maturity date: | Feb. 28, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.2 times any index gain; par if index falls by up to 15%; 1% loss for every 1% decline beyond 15%
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Initial index level: | 4,705.26
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Pricing date: | Feb. 25
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Settlement date: | Feb. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40432XB91
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