Published on 6/25/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $767,000 buffered uncapped notes linked to S&P 500
By Marisa Wong
Madison, Wis., June 25 – HSBC USA Inc. priced $767,000 of 0% buffered uncapped market participation securities due Dec. 26, 2017 linked to the S&P 500 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 the index return. Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% that the index declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | S&P 500
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Amount: | $767,000
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Maturity date: | Dec. 26, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any index gain; par if index falls by up to 15%; 1% loss for every 1% that index declines beyond 15%
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Initial index level: | 1,962.61
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Pricing date: | June 23
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Settlement date: | June 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40433BDW5
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