By Jennifer Chiou
New York, April 29 - HSBC USA Inc. priced $3.06 million of 0% enhanced market participation notes due June 30, 2009 linked to shares of the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund's final share price is at least the initial share price, the payout at maturity will be par plus 200% of any gain on the fund, capped at a payout equal to 140% of par.
If the final share price is below the initial share price, the payout will be par times the fund performance.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Enhanced market participation notes
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Underlying fund: | Financial Select Sector SPDR
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Amount: | $3,064,000
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Maturity: | June 30, 2009
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, capped at 140% of par; if final share price is below the initial share price, par times fund performance
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Initial share price: | $26.95
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Pricing date: | April 25
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Settlement date: | April 30
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.7%
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