Published on 7/2/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1 million leveraged buffered uncapped market participation notes on S&P 500
By Toni Weeks
San Luis Obispo, Calif., July 2 - HSBC USA Inc. priced $1 million of 0% buffered market participation securities due July 2, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the 144% of the index return. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%, if any.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Leveraged buffered uncapped market participation securities
|
Underlying index: | S&P 500
|
Amount: | $1,002,000
|
Maturity date: | July 2, 2018
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus 144% of any index gain; par if index falls by up to 10%; 1% loss for every 1% that index declines beyond 10%, if any
|
Initial index level: | 1,613.2
|
Pricing date: | June 27
|
Settlement date: | July 2
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | None
|
Cusip: | 40432XH20
|
© 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.