Published on 4/26/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.14 million income plus notes on five stocks with 0.5% minimum coupon
By Susanna Moon
Chicago, April 26 - HSBC USA Inc. priced $1.14 million of income plus notes due April 29, 2020 linked to a basket of common stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Apple Inc., Altria Group, Inc., eBay Inc., PepsiCo, Inc. and Wal-Mart Stores, Inc.
Interest will be 0.5% plus 8% if each basket stock closes at or above its initial share price on the valuation date. Interest is payable annually.
The payout at maturity will be par plus the last coupon payment.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Income plus notes
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Underlying stocks: | Apple Inc., Altria Group, Inc., eBay Inc., PepsiCo, Inc. and Wal-Mart Stores, Inc.
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Amount: | $1,144,000
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Maturity: | April 29, 2020
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Coupon: | 8.5% if each basket stock closes at or above its initial share price on the valuation date or 0.5% otherwise; payable annually
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Price: | Par
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Payout at maturity: | Par plus final coupon
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Pricing date: | April 24
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Settlement date: | April 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 4.25%
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Cusip: | 40432XDY4
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