Published on 7/25/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.6 million contingent buffered notes on S&P MidCap 400
By Toni Weeks
San Luis Obispo, Calif., July 25 - HSBC USA Inc. priced $1.6 million of 0% leveraged contingent buffered enhanced notes due Aug. 15, 2014 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 80% knock-out level, the payout at maturity will be par plus the index return, subject to a minimum return of 0% and a maximum return of 12%. Otherwise, investors will be fully exposed to losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
Issuer: | HSBC USA Inc.
|
Issue: | Contingent buffered enhanced notes
|
Underlying index: | S&P MidCap 400
|
Amount: | $1.6 million
|
Maturity: | Aug. 15, 2014
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index finishes at or above 80% knock-out level, par plus index return, subject to minimum return of 0% and maximum return of 12%; otherwise, full exposure to index's decline from initial level
|
Initial index level: | 1,239.73
|
Pricing date: | July 23
|
Settlement date: | July 30
|
Underwriter: | HSBC Securities (USA) Inc.
|
Agent: | J.P. Morgan Securities LLC
|
Fees: | None
|
Cusip: | 40432XJ69
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.