Published on 7/16/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $1.58 million equity buffer notes linked to S&P 500
By Jennifer Chiou
New York, July 16 - HSBC USA Inc. priced $1.58 million of 0% equity buffer notes due July 17, 2014 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 130% of any index gain. Investors will receive par if the index declines by 20% or less and will lose 1.25% for each 1% index decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Equity buffer notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,579,000
|
| Maturity: | July 17, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 130% of any index gain; par if index falls by 20% or less; 1.25% loss for each 1% decline beyond 20%
|
| Initial index level: | 1,228.30
|
| Pricing date: | July 14
|
| Settlement date: | July 17
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
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