Published on 5/22/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.22 million leveraged tracker notes tied to S&P 500
By Marisa Wong
Madison, Wis., May 22 - HSBC USA Inc. priced $3.22 million of 0% leveraged tracker notes due May 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 176% of the index return. Otherwise, investors will be fully exposed to the index decline.
HSBC Securities (USA) Inc. is the agent.
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: | $3.22 million
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Maturity: | May 27, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than zero, par plus 176% of index return; otherwise, investors will be fully exposed to index decline
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Initial level: | 1,872.83
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Pricing date: | May 21
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Settlement date: | May 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.5%
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Cusip: | 40433BBG2
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