Published on 3/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $905,000 leveraged contingent buffered enhanced notes on Bristol-Myers
By Marisa Wong
Madison, Wis., March 28 - HSBC USA Inc. priced $905,000 of 0% leveraged contingent buffered enhanced notes due April 15, 2015 linked to Bristol-Myers Squibb Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above the 90% knock-out level, the payout at maturity will be par plus double the stock return, subject to a contingent minimum return of 0% and a maximum return of 27.5%.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged contingent buffered enhanced notes
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Underlying stock: | Bristol-Myers Squibb Co. (Symbol: BMY)
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Amount: | $905,000
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Maturity: | April 15, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If stock finishes at or above 90% knock-out level, par plus double return, subject to a contingent minimum return of 0% and a maximum return of 27.5%; otherwise, full exposure to any losses
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Initial price: | $52.66
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | HSBC Securities (USA) Inc.
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 40432XWN7
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