Published on 5/2/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.23 million Capped Leveraged Index Return Notes linked to silver
By Susanna Moon
Chicago, May 2 - HSBC USA Inc. priced $4.23 million of 0% Capped Leveraged Index Return Notes due May 5, 2015 tied to the price of silver, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any gain in the price of silver, up to a maximum return of 16.5%.
Investors will receive par if the price of silver falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | Silver
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Amount: | $4,230,570
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Maturity: | May 5, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of return on silver, capped at 16.5%; par if price falls by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial index level: | 2,442.00
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Pricing date: | April 30
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Settlement date: | May 3
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40433X407
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