By Susanna Moon
Chicago, March 31 - HSBC USA Inc. priced $1.45 million of 0% buffered Accelerated Market Participation Securities due Oct. 2, 2012 linked to the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 18%.
Investors will receive par if the shares fall by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying fund: | SPDR S&P Metals & Mining exchange-traded fund
|
| Amount: | $1.45 million
|
| Maturity: | Oct. 2, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 18%; 1% loss per 1% drop beyond 10%
|
| Initial level: | $73.57
|
| Pricing date: | March 29
|
| Settlement date: | April 5
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 4042K1FK4
|
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