New Issue: HSBC USA prices $2.58 million bearish return optimization securities linked to S&P 500

By Jennifer Chiou

New York, Jan. 28 - HSBC USA Inc. priced $2.58 million of 0% bearish return optimization securities with partial protection due March 31, 2010 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 of $10 plus 5% for each 1% decline in the index, subject to a maximum return of 21.2%. Investors will receive par if the index advances by 10% or less and will lose 1% for each 1% that the index increases beyond 10%.

UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.

Issuer:	HSBC USA Inc.
Issue:	Bearish return optimization securities
Underlying index:	S&P 500
Amount:	$2,578,000
Maturity:	March 31, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 5% for each 1% decline in the index, subject to a maximum return of 21.2%; par if the index advances by 10% or less; investors will lose 1% for each 1% that the index increases beyond 10%
Initial level:	845.71
Pricing date:	Jan. 27
Settlement date:	Jan. 30
Underwriters:	UBS Financial Services Inc., HSBC USA Inc.
Fees:	1.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.