By Toni Weeks
San Diego, Dec. 21 - HSBC USA Inc. priced $2.9 million of 0% buffered Accelerated Market Participation Securities due June 24, 2014 linked to the iShares FTSE China 25 index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, subject to a maximum return of 15%. Investors will receive par if the fund share price declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying ETF: | iShares FTSE China 25 index fund
|
| Amount: | $2.9 million
|
| Maturity: | June 24, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 15%; par if fund declines by 10% or less; 1% loss for every 1% drop beyond 10%
|
| Initial price: | $39.48
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 40432X4V0
|
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