New York, July 1 - HSBC USA Inc. priced $8.88 million of 0% market-linked step up notes due June 24, 2016 tied to a basket of four indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is made up of the S&P 500 index, the MSCI EAFE index, the MSCI Emerging Markets index and the Russell 2000 index, each with an equal weight.
If the ending value of the basket is more than the starting value, investors will receive the greater of par plus the basket return and par plus the step-up payment of 14.75%.
Investors will receive par if the basket falls by up to 5% and will lose 1% for every 1% decline in the basket beyond 5%.
Merrill Lynch & Co. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market-linked step up notes
|
| Underlying basket: | S&P 500 index, MSCI EAFE index, MSCI Emerging Markets index and Russell 2000 index, equally weight
|
| Amount: | $8,877,050
|
| Maturity: | June 24, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket gains, greater of par plus basket return and par plus step-up payment of 14.75%; par if basket falls by up to 5%; 1% loss for every 1% decline beyond 5%
|
| Pricing date: | June 27
|
| Settlement date: | July 5
|
| Underwriters: | Merrill Lynch & Co.
|
| Fees: | 2.25%
|
| Cusip: | 40433X639
|
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