By Toni Weeks
San Luis Obispo, Calif., April 27 – HSBC USA Inc. priced $39.41 million of 0% Accelerated Return Notes due June 24, 2016 linked to a basket of three equally weighted financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co.
The payout at maturity will be par plus 300% of any basket gain, capped at 13.35%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Return Notes
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Underlying stocks: | Citigroup Inc. (Symbol: C), JPMorgan Chase & Co. (Symbol: JPM) and Wells Fargo & Co. (Symbol: WFC)
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Amount: | $39,409,240
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Maturity: | June 24, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain, up to 13.35% maximum return; exposure to any basket decline
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Initial basket level: | 100
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Pricing date: | April 23
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Settlement date: | April 30
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 40434G783
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