Published on 6/5/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $700,000 autocallable yield floaters linked to three indexes
By Susanna Moon
Chicago, June 5 - HSBC USA Inc. priced $700,000 of autocallable yield notes due June 6, 2018 linked to the S&P 500 index, Euro Stoxx 50 index and the Nikkei 225 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be Libor plus 470 basis points, payable quarterly.
The notes will be called at par if each index closes at or above its initial level on any annual call observation date.
The payout at maturity will be par unless any index closes below its trigger level - 50% of its initial level - on any day during the life of the notes and the return of the worst performing index is negative, in which case investors will receive par plus the return of the worst performing index.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Autocallable yield notes
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Underlying indexes: | S&P 500 index, Euro Stoxx 50 index and the Nikkei 225 index
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Amount: | $700,000
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Maturity: | June 6, 2018
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Coupon: | Libor plus 470 bps, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless any index falls below trigger level during life of notes and return of worst performing index is negative, in which case par plus return of worst performing index
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Call: | At par if each index closes at or above their initial levels on any annual call observation date beginning in June 2014
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Initial index levels: | 1,640.42 for S&P, 2,747.74 for Euro Stoxx and 13,261.82 for Nikkei
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Trigger levels: | 50% of initial levels
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Pricing date: | May 31
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Settlement date: | June 6
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Agent: | HSBC Securities (USA) Inc.
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Fees: | None
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Cusip: | 40432XFM8
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