Published on 9/27/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.19 million leveraged buffered notes on PowerShares Low Volatility
By Marisa Wong
Madison, Wis., Sept. 27 - HSBC USA Inc. priced $1.19 million of 0% leveraged buffered uncapped market participation securities due Sept. 30, 2016 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% of any fund gain. Investors will receive par if the fund return is at least negative 10% and will be exposed to any losses beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Leveraged buffered uncapped market participation securities
|
| Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio
|
| Amount: | $1,194,000
|
| Maturity: | Sept. 30, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 120% of any fund gain; par if fund return is at least negative 10%; exposure to any losses beyond the 10% buffer
|
| Initial price: | $31.47
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40432XK75
|
© 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.
