Published on 5/13/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $3.75 million notes tied to MSCI Italy SMID, MSCI Spain SMID
By Marisa Wong
Madison, Wis., May 13 - HSBC USA Inc. priced $3.75 million of 0% notes due May 28, 2015 linked to an equally weighted basket of the MSCI Italy SMID Cap index and the MSCI Spain SMID Cap index, according to a 424B2 filing with the Securities and Exchange Commission.
For each $1,000 principal amount of notes, the payout at maturity will be (a) $1,000 multiplied by (b) one plus the basket return multiplied by (c) a basket adjustment factor of 99.35%. Because of the basket adjustment factor, investors will lose some or all of their principal if the basket return is less than 0.654252%.
The final level of each basket component will be the average of that index's closing levels on the five trading days ending May 22, 2015.
J.P. Morgan Securities LLC and JPMorgan Chase Bank NA are the placement agents.
Issuer: | HSBC USA Inc.
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Issue: | Notes
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Underlying basket: | MSCI Italy SMID Cap index and MSCI Spain SMID Cap index, equally weighted
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Amount: | $3.75 million
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Maturity: | May 28, 2015
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | (a) $1,000 multiplied by (b) one plus basket return multiplied by (c) adjustment factor of 99.35%
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Initial levels: | €520.70 for Italy index, €596.02 for Spain index
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Final index level: | Average of index's closing levels on five trading days ending May 22, 2015
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Pricing date: | May 9
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Settlement date: | May 14
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Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank NA
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Fees: | 0.75%
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Cusip: | 40433BBF4
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