By Jennifer Chiou
New York, Dec. 30 - HSBC USA Inc. priced $2.03 million of 0% best-of performance notes due Dec. 31, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index falls below the barrier level of 65% of the initial level during the life of the notes.
If a trigger event has occurred, the payout at maturity will be par plus any index gain.
Investors will receive par for losses up to 10% and will share in losses beyond 10%.
If a trigger event does not occur, the payout will be par plus the greater of the 24% contingent minimum return and the index return.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Five-year best-of performance notes
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Underlying index: | S&P 500
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Amount: | $2,028,000
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Maturity: | Dec. 31, 2014
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If a trigger event occurs, par plus any index gain, par for losses up to 10% and exposure to losses beyond 10%; if no trigger event occurs, par plus greater of 24% and index return
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Initial level: | 1,127.78
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Barrier level: | 733.06, 65% of initial price
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Pricing date: | Dec. 28
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Settlement date: | Dec. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3%
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