By Jennifer Chiou
New York, June 27 - HSBC USA Inc. priced $1,304,000 of 0% buffered performance plus securities due June 30, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par plus the greater of any gain and the minimum upside return of 24%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered performance plus securities
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Underlying index: | S&P 500
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Amount: | $1,304,000
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Maturity: | June 30, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus greater of any index gain or 24% if return is positive; par if index falls by up to 10%; 1% for every 1% drop beyond buffer
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Initial level: | 1,313.72
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Pricing date: | June 25
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Settlement date: | June 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.2%
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Cusip: | 4042K1P64
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