Published on 5/9/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.58 million notes tied to Chinese renminbi via JPMorgan
By Jennifer Chiou
New York, May 9 - HSBC USA Inc. priced $8,576,000 of 0% notes due May 15, 2014 linked to the performance of the Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is greater than zero, the payout at maturity will be par plus 148% of the return. If the currency return is less than or equal to zero, the payout will be par.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as agents.
Issuer: | HSBC USA Inc.
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Issue: | Notes
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Underlying currency: | Chinese renminbi relative to dollar
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Amount: | $8,576,000
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Maturity: | May 15, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 148% of currency return if currency return is positive; par if currency return is less than or equal to zero
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Initial exchange rate: | 6.2864 renminbi per dollar
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Pricing date: | May 8
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Settlement date: | May 15
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Underwriter: | HSBC Securities (USA) Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 4042K1M59
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