By Marisa Wong
Madison, Wis., Feb. 26 - HSBC USA Inc. priced $1.02 million of 0% twin participation notes due Aug. 26, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus the lesser of the index return and 24%.
If the final index level is 75% to 100% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than 75% of the initial level, investors will lose 1% for every 1% that the final level is less than the initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Twin participation notes
|
| Underlying index: | Russell 2000
|
| Amount: | $1,023,000
|
| Maturity: | Aug. 26, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than initial index level, par plus lesser of index return and 24%; if final level is 75% to 100% of initial level, par plus absolute value of index return; otherwise, 1% loss for every 1% that final level is less than initial level
|
| Initial index level: | 1,164.63
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40432XTX9
|
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