Published on 3/19/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.55 million 3.5-year averaging notes linked to S&P 500 Low Volatility
By Toni Weeks
San Diego, March 19 - HSBC USA Inc. priced $1.55 million of 0% averaging notes due Sept. 18, 2015 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the average closing level of the index measured quarterly.
Investors will receive par if the average return is negative or flat.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Averaging notes
|
| Underlying index: | S&P 500 Low Volatility
|
| Amount: | $1,552,000
|
| Maturity: | Sept. 18, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain in the average closing level of the index measured quarterly, floor of par
|
| Initial level: | 4,270.43
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 4042K1ZU0
|
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