By Susanna Moon
Chicago, Jan. 28 - HSBC USA Inc. priced $5.13 million of 0% performance securities with contingent protection due Jan. 31, 2011 linked to the MSCI Emerging Markets index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 110% of any gain on the index.
If the final index level is less than the initial level but the index does not close below its trigger level - 55% of the initial level - during the life of the notes, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline in the index.
HSBC Securities (USA) Inc. is the agent.
| Issue: | Performance securities with contingent protection
|
| Issuer: | HSBC USA Inc.
|
| Underlying index: | MSCI Emerging Markets
|
| Amount: | $5,132,000
|
| Maturity: | Jan. 31, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 110% of any index gain; par if index never closes below the trigger level and finishes below the initial level; otherwise, 1% loss for each 1% index decline
|
| Initial index level: | Average of index's closing levels on Jan. 16, Jan. 17, Jan. 18, Jan. 22 and Jan. 23 of 2008
|
| Trigger level: | 55% of the initial index level
|
| Pricing date: | Jan. 16
|
| Settlement date: | Jan. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
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