By Jennifer Chiou
New York, Jan. 26 - HSBC USA Inc. priced $508,000 of 0% autocallable notes due Jan. 27, 2014 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 6% per year if the index closes at or above the initial index level on any of the semiannual observations dates to occur in July and January.
If the notes are not called and the final index level is at least 70% of the initial index level, the payout at maturity will be par. Investors will lose 1.4286% for every 1% that it declines beyond 30%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying index: | Russell 2000
|
| Amount: | $508,000
|
| Maturity: | Jan. 27, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final index level is at least 70% of initial index level, par; otherwise, 1.4286% loss for every 1% that index declines beyond 30%
|
| Call: | Automatically at par plus 6% per year if index closes at or above initial index level on any of the semiannual observations dates to occur in July and January
|
| Initial index level: | 788.27
|
| Pricing date: | Jan. 24
|
| Settlement date: | Jan. 27
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.8%
|
| Cusip: | 4042K1VD2
|
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