By E. Janene Geiss
Philadelphia, Nov. 26 - HSBC USA Inc. priced $4.92 million of 0% performance securities with contingent protection due Nov. 30, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
If the final index return is positive, the payout at maturity will be par of $10 plus 113% of the final index return. Investors will receive par for losses up to 25% and will share in losses beyond 25%.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance securities with contingent protection
|
| Underlying index: | S&P 500
|
| Amount: | $4.92 million
|
| Maturity: | Nov. 30, 2011
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 113% of any index gain; par for losses up to 25%; investors share in losses beyond 25%
|
| Initial index level: | 851.81
|
| Trigger level: | 638.86, 75% of initial level
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 28
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2.5%
|
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