By Toni Weeks
San Luis Obispo, Calif., July 2 - HSBC USA Inc. priced $60.18 million of 0% market-linked step-up notes due June 26, 2015 linked to the Dow Jones Global Titans 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the step-up value - 118% of the initial level - the payout at maturity will be par of $10 plus the index return.
If the index finishes at or above the initial level but is less than or equal to the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 18%.
Investors will be exposed to any losses if the index declines.
BofA Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Dow Jones Global Titans 50 index
|
| Amount: | $60,176,510
|
| Maturity: | June 26, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes above 118% of initial level, par plus index return; if index finishes at or above initial level but less than or equal to step-up value, par plus 18%; full exposure to losses
|
| Initial level: | 206.59
|
| Step-up value: | 243.78, 118% of initial level
|
| Pricing date: | June 27
|
| Settlement date: | July 5
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 40433X662
|
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