By Laura Lutz
Des Moines, March 11 - HSBC USA Inc. priced $17.75 million of 0% equity buffer notes due March 23, 2009 linked to an index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 55% weight, the MSCI EAFE index with a 30% weight and the Russell 2000 index with a 15% weight.
If the final basket level is at least the initial level, the payout at maturity will be par plus 200% of any basket gain, capped at a maximum payout equal to 155.5% of par.
If the basket level declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the baskets decline past 10%.
HSBC Securities (USA) Inc. will be the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Equity buffer notes
|
| Underlying basket: | S&P 500 with 55% weight, MSCI EAFE with 30% weight and Russell 2000 with 15% weight
|
| Amount: | $17,754,000
|
| Maturity: | March 23, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final basket level is at least initial level, par plus 200% of any basket gain, capped at payout equal to 155.5% of par; par if baskets decline by up to 10%; investors lose 1% for each 1% decline past 10%
|
| Initial levels: | 1,293.37 for S&P 500; 2,001.96 for MSCI EAFE; 660.11 for Russell 2000
|
| Pricing date: | March 7
|
| Settlement date: | March 14
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
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