Published on 4/1/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $24.4 million Accelerated Return Notes on Russell 2000
New York, April 1 - HSBC USA Inc. priced $24.4 million of 0% Accelerated Return Notes due May 29, 2014 tied to the Russell 2000 Index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payout of par plus 14.13%. Investors will lose 1% for every 1% decline in the index.
Merrill Lynch & Co. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Accelerated Return Notes
|
| Underlying index: | Russell 2000 Index
|
| Amount: | $24,401,970
|
| Maturity: | May 29, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 14.13%; 1% loss for every 1% decline
|
| Initial index level: | 951.54
|
| Pricing date: | March 28
|
| Settlement date: | April 5
|
| Underwriters: | Merrill Lynch & Co.
|
| Fees: | 2%
|
| Cusip: | 40433T265
|
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