By Toni Weeks
San Luis Obispo, Calif., April 25 - HSBC USA Inc. priced $1.25 million of 0% capped performance barrier notes due Oct. 28, 2014 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 130% of any index gain, up to a maximum return of 22.2%.
Investors will receive par if the index falls by up to 10% and will be fully exposed to losses if the index drops below the 90% barrier level.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Capped performance barrier notes
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Underlying index: | S&P 500
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Amount: | $1.25 million
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Maturity: | Oct. 28, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any index gain, capped at 22.2%; par if index level falls by up to 10%; full exposure to losses if index drops below 90% barrier level
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Initial level: | 1,562.5
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Pricing date: | April 23
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Settlement date: | April 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40432XEF4
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