Published on 7/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.6 million return enhanced notes linked to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., July 25 - HSBC USA Inc. priced $1.6 million of 0% return enhanced notes due Aug. 15, 2014 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 2 times the index return, subject to a maximum return of 18%. If the index return is negative, investors will be exposed to the decline.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $1.6 million
|
| Maturity: | Aug. 14, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, subject to 18% maximum return; exposure to any index decline
|
| Initial index level: | 1,239.73
|
| Final index level: Average of index's closing levels on the five trading days ending Aug. 8, 2014
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | None
|
| Cusip: | 40432XJ77
|
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