Published on 7/2/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $20.88 million Accelerated Return Notes linked to gold
By Jennifer Chiou
New York, July 2 - HSBC USA Inc. priced $20,881,080 of 0% Accelerated Return Notes due Sept. 4, 2013 linked to the gold spot price, according to a 424B2 with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of 18.72%.
Investors will be exposed to any losses.
Bank of America Merrill Lynch will be the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying asset: | Gold
|
| Amount: | $20,881,080
|
| Maturity: | Sept. 4, 2013
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any gain in gold, capped at 18.72%; exposure to any losses
|
| Initial level: | 1,558.50
|
| Pricing date: | June 28
|
| Settlement date: | July 6
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40433M575
|
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