Published on 5/14/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.7 million autocallable return enhanced notes on Topix
By Marisa Wong
Madison, Wis., May 14 - HSBC USA Inc. priced $1.7 million of 0% autocallable return enhanced notes due May 29, 2014 linked to the Topix index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the call level, 103.71% of the initial index level, on any observation date, the notes will be automatically called at par plus a return of 7.42%. The review dates are Aug. 22, Nov. 21, 2013 and Feb. 20, 2014.
If the final index level is greater than the initial index level, the payout at maturity will be par plus two times the index return, subject to a maximum return of 7.42%. Otherwise, investors will be fully exposed to the decline in the index.
J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable return enhanced notes
|
| Underlying index: | Topix
|
| Amount: | $1.7 million
|
| Maturity: | May 29, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus two times index return, subject to maximum return of 7.42%; otherwise, full exposure to index's decline
|
| Call: | Automatically at par plus 7.42% if index closes at or above call level on Aug. 22, Nov. 21, 2013 or Feb. 20, 2014
|
| Initial index level: | 1,210.60
|
| Call level: | 1,255.51, 103.71% of initial level
|
| Pricing date: | May 10
|
| Settlement date: | May 15
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 40432XFF3
|
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