Published on 5/31/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.87 million Mitts linked to real, peso basket vs. euro
By Susanna Moon
Chicago, May 31 - HSBC USA Inc. priced $6.87 million of 0% currency Market Index Target-Term Securities due May 29, 2015 linked to the performance of a basket of equally weighted currencies relative to the euro, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Brazilian real and Mexican peso.
BofA Merrill Lynch is the underwriter.
The payout at maturity will be par of $10 plus 1.43 times any gain in the basket.
If the basket falls, investors will be exposed to losses, with a minimum payout of 90% of par.
Issuer: | HSBC USA Inc.
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Issue: | Currency Market Index Target-Term Securities
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Underlying currencies: | Brazilian real and Mexican peso, equally weighted, against the euro
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Amount: | $6,868,590
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Maturity: | May 29, 2015
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 143% of any basket gain; if basket falls, exposure to losses, floor of 90% of par
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Initial levels: | 2.7093 for real and 16.4023 for peso
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Pricing date: | May 29
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Settlement date: | June 6
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Underwriter: | BofA Merrill Lynch
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Fees: | 1.75%
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Cusip: | 40433X795
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