E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 12/28/2012 in the Prospect News Structured Products Daily.

New Issue: HSBC prices $14.57 million performance barrier notes tied to S&P 500

By Marisa Wong

Madison, Wis., Dec. 28 - HSBC USA Inc. priced $14.57 million of 0% performance barrier notes due June 27, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 130% of any index gain.

Investors will receive par if the index falls by up to 30% and will be fully exposed to losses if the index drops below the 70% barrier level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:HSBC USA Inc.
Issue:Performance barrier notes
Underlying index:S&P 500
Amount:$14,571,000
Maturity:June 27, 2016
Coupon:0%
Price:Par
Payout at maturity:Par plus 130% of any index gain; par if index falls by up to 30%; full exposure to losses if index drops below 70% barrier level
Initial level:1,430.15
Pricing date:Dec. 21
Settlement date:Dec. 27
Agent:HSBC Securities (USA) Inc.
Fees:None
Cusip:40432X4P3

© 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.