Published on 5/10/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11 million 0% return enhanced notes linked to Russell 2000
By Jennifer Chiou
New York, May 10 - HSBC USA Inc. priced $11 million of 0% return enhanced notes due Aug. 11, 2010 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, capped at 13.36%. Investors will share in any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying index: | Russell 2000
|
| Amount: | $11 million
|
| Maturity: | Aug. 11, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double the index gain, capped at 13.36%; investors share in losses
|
| Initial index level: | 672.26
|
| Pricing date: | May 6
|
| Settlement date: | May 11
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 4042K0Z81
|
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