Published on 3/27/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.15 million market participation notes tied to PowerShares S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., March 27 - HSBC USA Inc. priced $1.15 million of 0% leveraged buffered uncapped market participation securities due March 28, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 110% of any gain in the fund. Investors will receive par if the share price falls by up to 20% and will lose 1% for every 1% decline beyond 0%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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Amount: | $1,154,000
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Maturity date: | March 28, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.1 times any ETF gain; par if price falls by up to 20%; 1% loss for every 1% decline beyond 20%
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Initial share price: | $33.59
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Pricing date: | March 25
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Settlement date: | March 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 3.7%
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Cusip: | 40432XVP3
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