Published on 11/28/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $501,000 buffered uncapped notes linked to the Dow
By Jennifer Chiou
New York, Nov. 28 - HSBC USA Inc. priced $501,000 of 0% buffered uncapped market participation securities due May 28, 2015 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return if the index return is positive. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Buffered uncapped market participation securities
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Underlying index: | Dow Jones industrial average
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Amount: | $501,000
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Maturity: | May 28, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus index return if index return is positive; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 11,493.72
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Pricing date: | Nov. 22
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Settlement date: | Nov. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.4%
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Cusip: | 4042K1RX3
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