Published on 3/18/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $16.98 million knock-out buffer notes tied to MSCI Europe
By Jennifer Chiou
New York, March 18 - HSBC USA Inc. priced $16,981,000 of 0% knock-out buffer notes due Sept. 21, 2015 linked to the MSCI Europe index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 82.5% knock-out level, the payout at maturity will be par plus the greater of any index gain and the contingent minimum return of 0%.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
HSBC Securities (USA) Inc. is the agent. J.P. Morgan Securities LLC is the dealer
Issuer: | HSBC USA Inc.
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Issue: | Knock-out buffer notes
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Underlying index: | MSCI Europe
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Amount: | $16,981,000
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Maturity: | Sept. 21, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes below knock-out level, par plus index return; otherwise, par plus any gain, floor of par
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Initial index level: | 109.65
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Knock-out level: | 82.5% of initial level
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Pricing date: | March 14
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Settlement date: | March 19
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Agents: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as dealer
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Fees: | 1.25%
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Cusip: | 40432XW80
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