New Issue: HSBC prices $6.39 million buffered dual directional notes linked to S&P 500 via JPMorgan

By Jennifer Chiou

New York, March 13 - HSBC USA Inc. priced $6.39 million of 0% buffered dual directional return enhanced notes due March 31, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. is the agent.

The payout at maturity will be par plus double any index gain, up to a maximum return of 24.6%.

Investors will receive par plus the absolute value of the return if the index falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.

Issuer:	HSBC USA Inc.
Issue:	Buffered dual directional return enhanced notes
Underlying index:	S&P 500
Amount:	$6,389,000
Maturity:	March 31, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, up to maximum return of 24.6%; if index falls by up to 10%, par plus absolute value of return; 1.1111% loss for every 1% decline beyond 10%
Initial index level:	750.74
Pricing date:	March 12
Settlement date:	March 17
Agent:	J.P. Morgan Securities Inc.
Fees:	1%

© 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.