By E. Janene Geiss
Philadelphia, May 27 - HSBC USA Inc. priced 0% best of performance notes due May 28, 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, 50% of the initial level.
If a trigger event has occurred, the payout 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 the greater of the 35% contingent minimum return or the index return.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Five-year best of performance notes
|
| Underlying index: | S&P 500
|
| Amount: | $501,000
|
| Maturity: | May 28, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a trigger event occurs, payout will be par plus any index gain; par for losses up to 10% and full exposure to losses beyond 10%; if no trigger event occurs, payout will be greater of 35% or minimum return or index return
|
| Initial level: | 887.00
|
| Trigger level: | 443.50, 50% of initial price
|
| Pricing date: | May 22
|
| Settlement date: | May 28
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.55%
|
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