Published on 5/28/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.48 million 50/150 performance securities tied to S&P 500 Low Volatility
By Toni Weeks
San Luis Obispo, Calif., May 28 - HSBC USA Inc. priced $3.48 million of 0% 50/150 performance securities due Nov. 28, 2018 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is flat or positive, the payout maturity will be par plus 150% of the index return.
If the index return is negative, investors will be exposed to 50% of the decline in the index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | 50/150 performance securities
|
Underlying index: | S&P 500 Low Volatility
|
Amount: | $3,476,000
|
Maturity: | Nov. 28, 2018
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index stays flat or gains, par plus 150% of index return; otherwise, exposure to 50% of index decline
|
Initial level: | 5,129.98
|
Pricing date: | May 23
|
Settlement date: | May 29
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 3.5%
|
Cusip: | 40432XEW7
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.