Published on 5/31/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.28 million buffered uncapped market participation notes on S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 31 - HSBC USA Inc. priced $1.28 million of 0% buffered uncapped market participation securities due Dec. 1, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Buffered uncapped market participation securities
|
Underlying index: | S&P 500
|
Amount: | $1,275,000
|
Maturity date: | Dec. 1, 2016
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus any index gain; par if index falls by up to 15%; 1% loss for every 1% index decline beyond 15%
|
Initial index level: | 1,660.06
|
Pricing date: | May 28
|
Settlement date: | May 31
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | Up to 0.5%
|
Cusip: | 40432XEK3
|
© 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.