By E. Janene Geiss
Philadelphia, Oct. 30 - HSBC USA Inc. priced $2.9 million 0% buffered enhanced market participation notes due Dec. 31, 2009 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the lesser of triple any gain on the fund or a maximum return of 30%.
Investors will receive par if the fund declines by up to 20% and will lose 1% for each 1% that the fund drops beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered enhanced market participation notes
|
| Underlying asset: | Financial Select Sector SPDR fund
|
| Amount: | $2,898,000
|
| Maturity: | Dec. 31, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus triple any gain on the fund, up to maximum return of 30%; par if fund drops by up to 20%; 1% loss for each 1% drop beyond 20%
|
| Initial price: | $15.25
|
| Pricing date: | Oct. 28
|
| Settlement date: | Oct. 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
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