By Jennifer Chiou
New York, Sept. 30 - HSBC USA Inc. revised the amount of its issue of 0% barrier optimization securities with partial protection due Dec. 30, 2010 linked to the S&P 500 index to $8,568,890, according to a 424B2 filing with the Securities and Exchange Commission.
All other terms remain unchanged.
If the index closes above the index barrier on any day during the life of the notes, the payout at maturity will be par of $10 plus 4%. The index barrier is 130.50% of the initial index level.
Otherwise, the payout will be:
• Par plus the index return if the final index level is greater than the initial level;
• Par if the index declines by 15% or less; or
• Par minus 1% for every 1% that the index declines beyond 15%.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier optimization securities with partial protection
|
| Underlying index: | S&P 500
|
| Amount: | $8,568,890
|
| Maturity: | Dec. 30, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index closes above index barrier during life of notes, par plus 4%; otherwise, par plus any index gain, par if index declines by 15% or less or par minus 1% for every 1% decline beyond 15%
|
| Initial index level: | 1,044.38
|
| Index barrier: | 1,362.91, 130.50% of initial level
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 30
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 1.5%
|
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