Published on 12/21/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $2.57 million six-year averaging notes on four Asian indexes
By Marisa Wong
Madison, Wis., Dec. 21 - HSBC USA Inc. priced $2.57 million of 0% averaging notes due Dec. 26, 2018 linked to a basket of four equally weighted indexes, according to an FWP filing with the Securities and Exchange Commission.
The underlying indexes are the Hang Seng index, the Taiwan Stock Exchange Capitalization Weighted Stock index, the Korea Composite Stock Price Index 200 and the MSCI Singapore Free index.
The payout at maturity will be par plus any basket gain. If the basket falls, the payout will be par.
The final basket level will be based on the average of the index closing levels on each of the quarterly observation dates over the life of the notes.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Averaging notes
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Underlying indexes: | Hang Seng index, Taiwan Stock Exchange Capitalization Weighted Stock index, Korea Composite Stock Price Index 200 and MSCI Singapore Free index, equally weighted
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Amount: | $2,573,000
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Maturity: | Dec. 26, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus basket return, subject to minimum payout of par
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Initial index levels: | 22,659.78 for Hang Seng, 7,595.46 for Taiex, 264.78 for Kospi, 360.39 for MSCI Singapore
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Final index levels: | For each index, average of its closing levels on 24 quarterly observation dates
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Pricing date: | Dec. 20
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Settlement date: | Dec. 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 4.025%
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Cusip: | 40432X4N8
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