By E. Janene Geiss
Philadelphia, Dec. 31 - HSBC USA Inc. priced a $3.08 million issue of 0% performance securities with contingent protection due Dec. 31, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
If the index return is positive, the payout at maturity will be par of $10 plus 109.5% of the index return.
If the index return is between 0% and negative 50%, the payout will be par.
If the index return is less than negative 50%, the payout will be par plus the index return.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance securities with contingent protection
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,077,500
|
| Maturity: | Dec. 31, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 109.5% of any index gain; par if index falls by 50% or less; full exposure to decline if index falls by more than 50%
|
| Initial index level: | 1,127.78
|
| Trigger level: | 563.89, 50% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Dec. 31
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 3.5%
|
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