Published on 3/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.51 million leveraged buffered uncapped notes on S&P 500 Low Volatility
By Susanna Moon
Chicago, March 27 - HSBC USA Inc. priced $2.51 million of 0% leveraged buffered uncapped market participation securities due March 31, 2016 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 1.15 times any index gain.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying index: | S&P 500 Low Volatility index
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Amount: | $2,506,000
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Maturity date: | March 31, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.15 times any index gain; par if index falls by up to 15%; 1% loss for every 1% index decline beyond 15%
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Initial index level: | 4,892.67
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Pricing date: | March 25
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Settlement date: | March 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XC74
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