By Toni Weeks
San Diego, May 8 - HSBC USA Inc. priced $5.96 million of contingent yield notes due June 14, 2013 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if either underlying component falls below the trigger level, 60% of the initial level, during the life of the notes.
If a trigger event does not occur, investors will receive par plus 13.5% at maturity.
If a trigger event occurs and the return of the least-performing underlying component is positive, investors will receive par.
If a trigger event occurs and the return of the least-performing component is negative, investors will share in those losses.
HSBC Securities (USA) Inc. will be the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Contingent yield notes
|
| Underlying components: | Russell 2000 index, Market Vectors Gold Miners ETF
|
| Amount: | $5,964,000
|
| Maturity: | June 14, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If neither underlying falls below trigger level during life of notes, par plus 13.5%; if trigger event occurs and return of least-performing underlying component is positive, par; if trigger event occurs and return of least-performing component is negative, full exposure to losses
|
| Initial levels: | 790.06 for Russell, $42.36 for Gold Miners
|
| Trigger level: | 60% of initial level
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.65%
|
| Cusip: | 4042K1M34
|
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