By Toni Weeks
San Diego, May 25 - HSBC USA Inc. priced $668,000 of 0% leveraged buffered uncapped market participation securities due May 29, 2015 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus 110% of the index return. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that the index declines beyond the 20% buffer.
The S&P 500 Low Volatility index is made up of the 100 least-volatile stocks over the previous year in the S&P 500 index. The index is rebalanced quarterly.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Leveraged buffered uncapped market participation securities
|
| Underlying index: | S&P 500 Low Volatility index
|
| Amount: | $668,000
|
| Maturity: | May 29, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.1 times any index gain; par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
|
| Initial level: | 4,244.70
|
| Pricing date: | May 23
|
| Settlement date: | May 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.2%
|
| Cusip: | 4042K1K69
|
© 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.
