Published on 5/1/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.36 million leveraged tracker notes tied to S&P 500
By Jennifer Chiou
New York, May 1 - HSBC USA Inc. priced $1,361,000 of 0% leveraged tracker notes due April 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 170% of the index return.
Investors will share in losses.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged tracker notes
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Underlying index: | S&P 500
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Amount: | $1,361,000
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Maturity: | April 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 170% of index return; exposure to losses
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Initial index level: | 1,863.40
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40432XYH8
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