Published on 1/30/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $63.22 million Accelerated Return Notes on S&P 500
By Jennifer Chiou
New York, Jan. 30 - HSBC USA Inc. priced $63,218,740 of 0% Accelerated Return Notes due April 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the agent.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum payment of $11.55 per note.
Investors will be exposed to any losses.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | S&P 500
|
| Amount: | $63,218,740
|
| Maturity: | April 1, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any index gain, return capped at 15.5%; full exposure to losses
|
| Initial level: | 1,318.43
|
| Pricing date: | Jan. 26
|
| Settlement date: | Feb. 2
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40433K710
|
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