Published on 3/4/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $25.5 million return enhanced notes tied to S&P 500
By Jennifer Chiou
New York, March 4 - HSBC USA Inc. priced $25.5 million of 0% return enhanced notes due June 7, 2011 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 any increase in the index, subject to a maximum return of 7.1%. Investors will be exposed to any decline in the index.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying index: | S&P 500
|
| Amount: | $25.5 million
|
| Maturity: | June 7, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, up to maximum return of 7.1%; exposure to any index decline
|
| Initial index level: | 1,308.44
|
| Pricing date: | March 2
|
| Settlement date: | March 7
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 4042K1FB4
|
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