Published on 6/13/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million market-linked notes due 2022 on index basket
By Jennifer Chiou
New York, June 13 – HSBC USA Inc. priced $5 million of market-linked notes due Dec. 16, 2022 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P MidCap 400 index and the Russell 1000 index, equally weighted.
The payout at maturity will be par plus any basket gain, capped at a maximum payout of $20 per $10 note.
If the basket falls, the payout will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Market-linked notes
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Underlying basket: | S&P MidCap 400 index (50% weight), Russell 1000 index (50% weight)
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Amount: | $5 million
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Maturity: | Dec. 16, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus any basket gain, capped at a maximum payout of $20 per $10 note; if basket falls, par
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Initial levels: | 1,405.76 for S&P, 1,084.092 for Russell
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Pricing date: | June 11
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Settlement date: | June 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40434C386
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