By Susanna Moon
Chicago, Sept. 29 - HSBC USA Inc. priced $15.83 million of 0% notes due Oct. 14, 2010 linked to a basket of five Asian indexes, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The basket consists of the Hang Seng China Enterprises index with a 33% weight, the Korea Stock Price Index 200 with a 24% weight, the MSCI Taiwan index with a 21% weight, the Hang Seng index with a 14% weight and the MSCI Singapore index with an 8% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 20.4%.
Investors will receive par if the basket falls by up to 10% and will lose 1.1111% for every 1% decline beyond 10%.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered return enhanced notes
|
| Underlying indexes: | Hang Seng China Enterprises index (33% weight), Korea Stock Price Index 200 (24% weight), MSCI Taiwan index (21% weight), Hang Seng index (14% weight) and MSCI Singapore index (8% weight)
|
| Amount: | $15,829,000
|
| Maturity: | Oct. 14, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any gain, capped at 20.4%; par if the basket falls by 10% or less; par minus 1.1111% for each 1% decline beyond 10%
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1%
|
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