Published on 6/21/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.29 million 27-month buffered AMPS on Market Vectors Gold
By Jennifer Chiou
New York, June 21 - HSBC USA Inc. priced $1.29 million of 0% buffered Accelerated Market Participation Securities due Sept. 17, 2013 linked to the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, subject to a maximum return of 20%. Investors will receive par if the fund's share price declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Accelerated Market Participation Securities
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Underlying fund: | Market Vectors Gold Miners exchange-traded fund
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Amount: | $1,288,000
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Maturity: | Sept. 17, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, capped at 20%; par if fund's share price falls by 20% or less; 1% loss for every 1% decline beyond 20%
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Initial share price: | $51.96
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Pricing date: | June 17
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Settlement date: | June 22
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.9%
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Cusip: | 4042K1HV8
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