Published on 6/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $715,000 buffered uncapped market participation notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., June 27 - HSBC USA Inc. priced $715,000 of 0% buffered uncapped market participation securities due Dec. 30, 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 declines by 16% or less and will lose 1% for every 1% that it declines beyond 16%, if any.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $715,000
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Maturity date: | Dec. 30, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 16%; 1% loss for every 1% that index declines beyond 16%, if any
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Initial index level: | 1,588.03
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | Up to 0.25%
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Cusip: | 40432XG62
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