Published on 4/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.3 million 50/150 performance notes on S&P 500 Low Volatility
By Susanna Moon
Chicago, April 25 - HSBC USA Inc. priced $1.3 million of 0% 50/150 performance securities due Oct. 26, 2018 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout maturity will be par plus 150% of any gain.
Otherwise, investors will be exposed to 50% of any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | 50/150 performance securities
|
| Underlying index: | S&P 500 Low Volatility index
|
| Amount: | $1,295,000
|
| Maturity date: | Oct. 26, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain; if index falls, exposure to 50% of losses
|
| Initial index level: | 5,151.56
|
| Pricing date: | April 23
|
| Settlement date: | April 26
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.775%
|
| Cusip: | 40432XDZ1
|
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