Published on 7/23/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.78 million leveraged contingent buffered notes linked to MSCI EAFE
By Angela McDaniels
Tacoma, Wash., July 23 - HSBC USA Inc. priced $5.78 million of 0% leveraged contingent buffered enhanced notes due Aug. 6, 2014 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 90% knock-out level, the payout at maturity will be par plus double the index return, subject to a minimum return of 0% and a maximum return of 16.7%. Otherwise, investors will be fully exposed to the index's decline from the initial level.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged contingent buffered enhanced notes
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Underlying index: | MSCI EAFE
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Amount: | $5,782,000
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Maturity: | Aug. 6, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above 90% knock-out level, par plus 200% of index return, subject to minimum return of 0% and maximum return of 16.7%; otherwise, full exposure to index's decline from initial level
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Initial index level: | 1,733.47
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Final index level: | Average of index's closing levels on July 28, 2014, July 29, 2014, July 30, 2014, July 31, 2014 and Aug. 1, 2014
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Pricing date: | July 19
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Settlement date: | July 24
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 40432XJ36
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