By Susanna Moon
Chicago, March 2 - HSBC USA Inc. priced $3.16 million of 0% best of performance notes due Nov. 18, 2014 based on 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 75% of the initial level during the life of the notes.
If a trigger event has occurred, the payout at maturity will be par plus the index return, which could be positive or negative.
If a trigger event does not occur, the payout will be par plus the greater of the 20% 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: | $3,156,000
|
| Maturity: | Nov. 18, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If a trigger event occurs, par plus index return; if no trigger event occurs, par plus greater of 20% and index return
|
| Initial level: | 1,104.49
|
| Barrier level: | 828.37, or 75% of initial price
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 4042K0Q32
|
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