By E. Janene Geiss
Philadelphia, March 27 - HSBC USA Inc. priced $6.8 million of 0% return enhanced notes due Sept. 30, 2010 linked to the iShares MSCI Emerging Markets index fund via agent J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 72.6%. Investors will be fully exposed to any index decline.
The issuer noted that the initial index level used to calculate the index return - 26.20 - is not equal to the closing level of the index on the pricing date.
The final index level will be the arithmetic average of the index's closing levels on the five consecutive trading days ending Sept. 27, 2010.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying fund: | iShares MSCI Emerging Markets index fund
|
| Amount: | $6.8 million
|
| Maturity: | Sept. 30, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, up to maximum return of 72.6%; full exposure to any index decline
|
| Initial index level: | 26.20
|
| Final index level: | Average of index's closing levels on five consecutive trading days ending Sept. 27, 2010
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| 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.
