By Jennifer Chiou
New York, Sept. 4 - HSBC USA Inc. priced $3,045,000 of 0% contingent buffered enhanced notes due Sept. 17, 2014 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index closes below the initial level by more than 20% on any day during the life of the notes or the final index level is less than the initial level by more than 20%. The final index level will be the average of the index closing levels on the five averaging days ending Sept. 12, 2014.
If a knock-out event occurs, the payout at maturity will be par plus the index return, subject to a maximum return of 9.6%, with full exposure to losses. Otherwise, the payout will be par plus 9.6%.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
| Issuer: | HSBC USA Inc.
|
| Issue: | Contingent buffered enhanced notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $3,045,000
|
| Maturity: | Sept. 17, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus index return, subject to a maximum return of 9.6%, with full exposure to losses if knock-out event occurs; otherwise, par plus 9.6%
|
| Initial index level: | 2,721.37
|
| Pricing date: | Aug. 30
|
| Settlement date: | Sept. 5
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Dealer: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 40432XKW0
|
© 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.
