Published on 8/3/2009 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $670,000 return enhanced notes linked to DJ Transportation fund via JPMorgan
By Susanna Moon
Chicago, Aug. 3 - HSBC USA Inc. priced $670,000 of 0% return enhanced notes due Feb. 4, 2010 linked to the iShares Dow Jones Transportation Average index fund, 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 triple any fund gain, up to a maximum return of 17.5%.
Investors will be exposed to any losses.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying fund: | iShares Dow Jones Transportation Average index fund
|
| Amount: | $670,000
|
| Maturity: | Feb. 4, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any fund gain, capped at 17.5%; exposure to losses
|
| Initial fund price: | $64.29
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 0.5%
|
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