Published on 6/3/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.71 million step-up notes linked to DAX Price Return
By Angela McDaniels
Tacoma, Wash., June 3 - HSBC USA Inc. priced $2.71 million of 0% market-linked step-up notes due May 29, 2015 linked to the DAX Price Return index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout maturity will be par of $10 plus the index return if the final index level is greater than the step-up value, which is 119% of the initial index level.
If the final index level is greater than or equal to the initial index level but less than or equal to the step-up value, the payout at maturity will be par plus 19%.
Investors will be exposed to any index decline.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market-linked step-up notes
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Underlying index: | DAX Price Return index
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Amount: | $2,707,020
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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: | If index finishes above step-up value, par plus index return; if index finishes at or above initial level but at or below step-up value, par plus 19%; full exposure to any index decline
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Initial index level: | 4,446.88
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Step-up value: | 5,291.79, 119% of initial level
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Pricing date: | May 30
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Settlement date: | June 6
|
Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40433X787
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