By Toni Weeks
San Luis Obispo, Calif., Dec. 9 – HSBC USA Inc. priced $1 million of 0% leveraged participation securities due Dec. 11, 2017 linked to the Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is positive, the payout at maturity will be par plus two times the return.
Investors will receive at least par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged participation securities
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Underlying currency: | Chinese renminbi versus the dollar
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Amount: | $1 million
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Maturity: | Dec. 11, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any currency gain, floor of par
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Initial spot rate: | 6.1373
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Pricing date: | Dec. 5
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Settlement date: | Dec. 10
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433BVF2
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