Published on 6/27/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $1.34 million enhanced market participation notes linked to S&P 500
By E. Janene Geiss
Philadelphia, June 27 - HSBC USA Inc. priced $1.34 million of 0% enhanced market participation notes due Aug. 31, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, subject to a maximum return of 19%. Investors will be fully exposed to any index decline.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Enhanced market participation notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,337,000
|
| Maturity: | Aug. 31, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any index gain, capped at maximum return of 19%; full exposure to any index decline
|
| Initial index level: | 1,321.97
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.25%
|
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