Published on 1/20/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3 million buffered return enhanced notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 20 - HSBC USA Inc. priced $3 million of 0% buffered return enhanced notes due Feb. 6, 2013 linked to the S&P 500 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 1.5 times the index return, subject to a maximum return of 12.3%. Investors will receive par if the index declines by 15% or less and will lose 1.17647% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
Issuer: | HSBC USA Inc.
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $3 million
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Maturity: | Feb. 6, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain, up to maximum return of 12.3%; par if index declines by 15% or less; 1.17647% loss for every 1% that index declines beyond 15%
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Initial index level: | 1,308.04
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Final index level: | Average of index's closing levels on the five trading days ending Feb. 1, 2013
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Underwriter: | HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer
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Fees: | 1%
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Cusip: | 4042K1VV2
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