Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.52 million leveraged buffered notes on PowerShares Low Volatility
By Marisa Wong
Madison, Wis., Sept. 27 - HSBC USA Inc. priced $1.52 million of 0% leveraged buffered uncapped market participation securities due Oct. 1, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 130% of any fund gain. Investors will receive par if the fund return is at least negative 20% and will be exposed to any losses beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio
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Amount: | $1,518,000
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Maturity: | Oct. 1, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 130% of any fund gain; par if fund return is at least negative 20%; exposure to any losses beyond the 20% buffer
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Initial price: | $31.47
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.95%
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Cusip: | 40432XK91
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