Published on 8/30/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.09 million 50/150 performance notes tied to S&P 500 Low Volatility
By Susanna Moon
Chicago, Aug. 30 - HSBC USA Inc. priced $2.09 million of 0% 50/150 performance securities due Aug. 30, 2019 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus 150% of any index gain.
Otherwise, investors will lose 0.5% for every 1% decline in the index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | 50/150 performance securities
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Underlying index: | S&P 500 Low Volatility
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Amount: | $2,091,000
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Maturity: | Aug. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains, par plus 150% of return; otherwise, 0.5% loss for every 1% decline
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Initial index level: | 4,948.98
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.7%
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Cusip: | 40432XJX0
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