Published on 4/29/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.1 million Accelerated Return Notes tied to Nikkei Stock
New York, April 29 - HSBC USA Inc. priced $5.1 million of 0% Accelerated Return Notes due June 27, 2014 tied to the Nikkei Stock Average Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payout of par plus 12.6%. Investors will lose 1% for every 1% decline in the index.
Merrill Lynch & Co. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | Nikkei Stock Average Index
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Amount: | $5,101,540
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Maturity: | June 27, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 12.6%; 1% loss for every 1% decline
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Initial index level: | 13,926.08
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Pricing date: | April 25
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Settlement date: | May 2
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40433X845
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