Published on 1/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $66.57 million Accelerated Return Notes on gold via Merrill
By Susanna Moon
Chicago, Jan. 30 - HSBC USA Inc. priced $66.57 million of 0% Accelerated Return Notes due April 1, 2013 linked to the gold spot price, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus triple any gain in the price of gold, up to a maximum payment of $11.97 per note.
Investors will be exposed to any losses.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying commodity: | Gold
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Amount: | $66,568,710
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Maturity: | April 1, 2013
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | Par plus 300% of any gain in gold price, return capped at 19.7%; full exposure to losses
|
Initial price: | $1,727
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Pricing date: | Jan. 26
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Settlement date: | Feb. 2
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 2%
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Cusip: | 40433K652
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