Published on 2/1/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $22.49 million 0% return enhanced noted tied to the S&P 500
By Marisa Wong
Madison, Wis., Feb. 1 - HSBC USA Inc. priced $22.49 million of 0% return enhanced notes due Feb. 15, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double index gain, subject to a maximum return of 18.8%. Investors will be fully exposed to index decline.
The final index level will be the average of the index's closing levels on the five trading days ending Feb. 10, 2012.
J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $22,494,000
|
| Maturity: | Feb. 15, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 18.8%; exposure to losses
|
| Initial index level: | 1,276.34
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 2
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1%
|
| Cusip: | 4042K1CT8
|
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