By Jennifer Chiou
New York, March 12 - HSBC USA Inc. priced $2.74 million of 0% digital buffered notes due Dec. 13, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the maximum return of 16.375%.
Investors will receive par if the index falls by up to 15% and will be exposed any losses beyond 15% at a rate of 1.1765% per 1% drop.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Digital buffered notes
|
| Underlying index: | S&P 500
|
| Amount: | $2.74 million
|
| Maturity: | Dec. 13, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index remains flat or gains, par plus 16.375%; par if index falls by up to 15% and exposure to losses beyond 15% at a rate of 1.1765% per 1% drop
|
| Initial index level: | 1,352.63
|
| Pricing date: | March 7
|
| Settlement date: | March 13
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 1.1%
|
| Cusip: | 4042K1ZY2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
