New Issue: HSBC prices $3.13 million knock-out barrier notes on peso vs. dollar

By Susanna Moon

Chicago, March 11 – HSBC USA Inc. priced $3.13 million of knock-out barrier notes due March 23, 2016 linked to the performance of the Mexican peso relative to the dollar, according to a 424B2 with the Securities and Exchange Commission.

If the currency finishes at or above the 84.95% barrier level, the payout at maturity will be par plus the greater of the currency return and the 4% contingent minimum return.

Otherwise, the payout will be par plus the currency return with full exposure to any losses.

HSBC Securities (USA) Inc. is the agent with J.P. Morgan Securities LLC as the placement agent.

Issuer:	HSBC USA Inc.
Issue:	Knock-out barrier notes
Underlying:	Mexican peso relative to dollar
Amount:	$3,125,000
Maturity:	March 23, 2016
Coupon:	0%
Price:	Par
Payout at maturity:	If currency finishes at or above barrier level, par plus any currency gain, floor of 4%; otherwise, par plus return with full exposure to any losses
Initial spot rate:	15.225
Barrier amount:	15.05%
Pricing date:	March 6
Settlement date:	March 12
Agents:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC
Fees:	1%
Cusip:	40433BH35

© 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.