By Toni Weeks
San Luis Obispo, Calif., Feb. 28 - HSBC USA Inc. priced $712,000 of 0% buffered Accelerated Market Participation Securities due Aug. 28, 2014 linked to the SPDR S&P Homebuilders exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any gain in the fund, subject to a maximum return of 16%.
Investors will receive par if the fund falls by up to 10% and will be exposed to declines beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying fund: | SPDR S&P Homebuilders ETF
|
| Amount: | $712,000
|
| Maturity date: | Aug. 28, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, return capped at 16%; par for declines in the fund of up to 10%; exposure to losses beyond 10%
|
| Initial price: | $26.97
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40432XAU5
|
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