Published on 3/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.34 million buffered uncapped notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 25 - HSBC USA Inc. priced $6.34 million of 0% buffered uncapped market participation securities due March 24, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain. Investors will receive par if the index falls by up to 15% 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 uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $6,341,000
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Maturity date: | March 24, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; 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: | 1,545.80
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Pricing date: | March 21
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Settlement date: | March 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | Up to 0.5%
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Cusip: | 40432XC82
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