By Susanna Moon
Chicago, Nov. 20 - HSBC USA Inc. priced $3.8 million of 0% knock-out buffer notes due May 21, 2014 linked to Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20%.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of any index gain and a contingent minimum return of 9%.
Otherwise, the payout will be par plus the index return, with exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Knock-out buffer notes
|
| Underlying index: | Euro Stoxx 50 index
|
| Amount: | $3,797,000
|
| Maturity: | May 21, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index falls by up to 20%, par plus any gain, floor of 9%; otherwise, par plus return with full exposure to any losses
|
| Knock-out event: | If index closes finishes below 80% trigger level
|
| Initial level: | 2,427.32
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 1.25%
|
| Cusip: | 40432X3K5
|
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