Published on 5/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $967,000 buffered uncapped market participation notes on S&P 500
By Susanna Moon
Chicago, May 28 - HSBC USA Inc. priced $967,000 of 0% buffered uncapped market participation securities due May 28, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index.
Investors will receive par if the index falls by up to 17% and will lose 1% for every 1% decline beyond 17%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $967,000
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Maturity date: | May 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 17%; 1% loss for every 1% drop beyond 17%
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Initial index level: | 1,892.49
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Pricing date: | May 22
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Settlement date: | May 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40433BAV0
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