Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $521,000 50/150 performance notes on PowerShares S&P 500 Low Volatility
By Marisa Wong
Madison, Wis., Sept. 27 - HSBC USA Inc. priced $521,000 of 0% 50/150 performance securities due Sept. 30, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF finishes at or above the initial level, the payout at maturity will be par plus 150% of any fund gain. Otherwise, investors will lose 0.5% for every 1% decline in the ETF share price.
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 ETF: | PowerShares S&P 500 Low Volatility Portfolio
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Amount: | $521,000
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Maturity: | Sept. 30, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund gains, par plus 150% of return; otherwise, 0.5% loss for every 1% decline
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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: | 3.7%
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Cusip: | 40432XL66
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