Published on 8/28/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million 0% return optimization securities linked to S&P 500 via UBS
By Susanna Moon
Chicago, Aug. 28 - HSBC USA Inc. priced $5 million of 0% return optimization securities due Aug. 31, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
At maturity, investors will receive par of $10 plus five times any index gain, up to a maximum return of 18.54%. Investors will share in any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $5 million
|
| Maturity: | Aug. 31, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus five times any index gain, up to maximum return of 18.54%; share in any losses
|
| Initial index level: | 1,271.51
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agents: | UBS Financial Services Inc., HSBC USA Inc.
|
| Fees: | 1.25%
|
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