By Susanna Moon
Chicago, May 17 - HSBC USA Inc. priced $3 million of 0% autocallable notes due May 20, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 8.4% if the index closes at or above the initial index level on either annual observation date.
If the notes are not called and the index finishes at or above the 70% barrier level, the payout at maturity will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable notes
|
| Underlying index: | S&P 500
|
| Amount: | $3 million
|
| Maturity: | May 20, 2014
|
| Coupon: | 0%
|
| Price: | Par unless index falls below trigger, in which case full exposure to any losses
|
| Payout at maturity: | Par
|
| Call: | At par plus 8.4% if index closes at or above initial index level on May 20, 2013 or May 15, 2014
|
| Initial index level: | 1,330.66
|
| Barrier level: | 70% of initial level
|
| Pricing date: | May 15
|
| Settlement date: | May 18
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 4042K1N66
|
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