By Susanna Moon
Chicago, Sept. 21 - HSBC USA Inc. priced $3.39 million of 0% knock-out buffer notes due March 24, 2011 linked to the iShares MSCI Mexico Investable Market index fund, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
A knock-out event occurs if the fund closes down by more than 30% from its initial price on any day during the life of the notes.
If a knock-out event has occurred, the payout at maturity will be par plus the fund return.
Otherwise, the payout will be par plus the greater of the return and the contingent minimum return of 5.7%.
| Issuer: | HSBC USA Inc.
|
| Issue: | Knock-out buffer notes
|
| Underlying fund: | iShares MSCI Mexico Investable Market index fund
|
| Amount: | $3,388,000
|
| Maturity: | March 24, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund falls by more than 30% during life of notes, par plus fund return; otherwise, par plus greater of return and 5.7%
|
| Initial price: | $45.20
|
| Pricing date: | Sept. 18
|
| Settlement date: | Sept. 23
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.25%
|
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