Published on 4/29/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.59 million performance barrier notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., April 29 - HSBC USA Inc. priced $2.59 million of 0% performance barrier notes due Oct. 31, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 122% of the index return. Investors will receive par if the index declines by 25% or less and will be fully exposed to the index decline if it falls by more than 25%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Performance barrier notes
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Underlying index: | S&P 500
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Amount: | $2,589,000
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Maturity: | Oct. 31, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 122% of index return if index return is greater than zero; par if index declines by 25% or less; full exposure to index's decline from its initial level if it falls by more than 25%
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Initial index level: | 1,585.16
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.75%
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Cusip: | 40432XDV0
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