By Susanna Moon
Chicago, Nov. 17 - HSBC USA Inc. priced $5.7 million of 0% best of performance notes due Nov. 18, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index falls below the barrier level of 60% of the initial level during the life of the notes.
If a trigger event has occurred, the payout at maturity will be par plus any index gain. Investors will receive par for losses up to 10% and will share in losses beyond 10%.
If a trigger event does not occur, the payout will be par plus the greater of the 20.25% contingent minimum return and the index return.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Best of performance notes
|
| Underlying index: | S&P 500
|
| Amount: | $5.7 million
|
| Maturity: | Nov. 18, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a trigger event occurs, par plus any index gain, par for losses up to 10% and exposure to losses beyond 10%; if no trigger event occurs, par plus greater of 20.25% and index return
|
| Initial level: | 1,093.48
|
| Barrier level: | 656.09, or 60% of initial price
|
| Pricing date: | Nov. 13
|
| Settlement date: | Nov. 18
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3%
|
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