Published on 9/26/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.82 million buffered uncapped market participation securities on S&P 500
By Jennifer Chiou
New York, Sept. 26 - HSBC USA Inc. priced $2.82 million of 0% buffered uncapped market participation securities due Sept. 27, 2018 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 falls by up to 20% and will lose 1% for every 1% that it declines, if any, beyond 20%.
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: | $2,817,000
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Maturity date: | Sept. 27, 2018
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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 20%; 1% loss for every 1% that index declines, if any, beyond 20%
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Initial index level: | 1,697.42
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Pricing date: | Sept. 24
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Settlement date: | Sept. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | Up to 3.95%
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Cusip: | 40432XKN0
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