By Marisa Wong
Madison, Wis., Oct. 29 - HSBC USA Inc. priced $1.38 million of 0% buffered Accelerated Market Participation Securities due April 30, 2014 linked to the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, subject to a maximum return of 22%. Investors will receive par if the fund share price declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying ETF: | SPDR S&P Metals & Mining ETF
|
| Amount: | $1.38 million
|
| Maturity: | April 30, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 22%; par if fund declines by 10% or less; 1% loss for every 1% drop beyond 10%
|
| Initial price: | $44.66
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 4042K15U3
|
© 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.
