Published on 7/1/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $24.29 million Accelerated Return Notes linked to S&P 500
New York, July 1 - HSBC USA Inc. priced $24.29 million of 0% Accelerated Return Notes due June 26, 2015 tied to the S&P 500 Index index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 300% of the index return, subject to a maximum payout of par plus 14.71%. Investors will lose 1% for every 1% decline in the index.
Merrill Lynch & Co. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying index: | S&P 500 Index
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Amount: | $24,286,900
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Maturity: | June 26, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 300% of index return, subject to maximum payout of par plus 14.71%; 1% loss for every 1% decline
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Initial index level: | 1,613.20.
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Pricing date: | June 27
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Settlement date: | July 5
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Underwriters: | Merrill Lynch & Co.
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Fees: | 2%
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Cusip: | 40433X647
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