Published on 3/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $990,000 averaging notes linked to S&P 500 Low Volatility
By Marisa Wong
Madison, Wis., March 27 - HSBC USA Inc. priced $990,000 of 0% averaging notes due March 28, 2019 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return, subject to a minimum payout of par.
The index's final level will be the average of its closing levels on 24 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 index: | S&P 500 Low Volatility
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Amount: | $990,000
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Maturity: | March 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index return, subject to minimum payout of par
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Initial index level: | 4,892.67
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Final index level: | Average of index's closing levels on 24 quarterly observation dates
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Pricing date: | March 25
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Settlement date: | March 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.275%
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Cusip: | 40432XCD1
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