By Angela McDaniels
Tacoma, Wash., April 29 - HSBC USA Inc. priced $1.07 million of 0% currency Market Index Target-Term Securities due April 27, 2015 linked to the performance of the Indian rupee relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the underwriter.
The exchange rate measure increases if the rupee strengthens relative to the euro. It decreases if the rupee weakens relative to the euro.
If the final exchange rate measure is greater than or equal to the initial exchange rate measure, the payout at maturity will be par of $10 plus 176% of the increase.
If the final exchange rate measure is less than the initial exchange rate measure, investors will be exposed to the decline, subject to a minimum payout of 90% of par.
| Issuer: | HSBC USA Inc.
|
| Issue: | Currency Market Index Target-Term Securities
|
| Underlying currency: | Indian rupee, measured relative to euro
|
| Amount: | $1,071,730
|
| Maturity: | April 27, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If rupee strengthens relative to euro, par plus 176% of increase; if rupee weakens relative to euro, exposure to decline, subject to minimum payout of $9 per note
|
| Initial index level: | 70.6342 rupees per euro
|
| Pricing date: | April 25
|
| Settlement date: | May 2
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 40433X852
|
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