By Marisa Wong
Madison, Wis., Sept. 11 - HSBC USA Inc. priced $2.81 million of 0% knock-out buffer notes due March 12, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index's closing level is less than the initial index level by more than 34.05% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a minimum payout of par. If a knock-out event occurs, the payout will be par plus the index return with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Knock-out buffer notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,805,000
|
| Maturity: | March 12, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If knock-out event does not occur, par plus greater of index return and 0%; if knock-out event occurs, par plus index return with full exposure to losses
|
| Knock-out event: | Index's closing level is less than initial index level by more than 34.05% on any day during life of notes
|
| Initial index level: | 1,437.92
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 12
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 1.25%
|
| Cusip: | 4042K14T7
|
© 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.
