Published on 3/31/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $797,800 contingent-return optimization notes on Russell 2000
By Jennifer Chiou
New York, March 31 - HSBC USA Inc. priced $797,800 of 0% contingent-return optimization securities due March 31, 2016 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 75% trigger level, the payout at maturity will be par plus the greater of the 6% contingent return and any index gain, up to a maximum return of 24%.
Otherwise, investors will be fully exposed to losses from the initial index level.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | HSBC USA Inc.
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Issue: | Contingent-return optimization securities
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Underlying index: | Russell 2000
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Amount: | $797,800
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Maturity: | March 31, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above trigger level, par plus the greater of the 6% contingent return and any index gain, capped at 24%; otherwise, full exposure to losses
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Initial level: | 1,155.4862
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Trigger level: | 866.6147, 75% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Agents: | HSBC Securities (USA) Inc. with UBS Financial Services Inc.
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Fees: | None
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Cusip: | 40434C709
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