Published on 7/29/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.01 million auto cap annual income opportunity securities linked to 12 stocks
By Angela McDaniels
Tacoma, Wash., July 29 - HSBC USA Inc. priced $1.01 million of annual income opportunity securities with auto cap due Aug. 1, 2013 linked to a basket of 12 common stocks and American Depositary Shares, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common shares of Amgen Inc. and eBay Inc., the class B shares of Nike, Inc. and the ADSs of AstraZeneca plc, Barrick Gold Corp., Credit Suisse Group Corp., PetroChina Co. Ltd., Research In Motion Ltd., SAP Corp., Sony Corp., UBS Corp. and Vodafone Group plc.
Interest is payable annually and will equal the average of the performances of the basket stocks and ADSs, subject to a floor of 0%.
If the return of a stock or ADS is positive, its performance will be 5.5%. Otherwise, its performance will be the greater of its return and negative 30%.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Annual income opportunity securities with auto cap
|
| Underlying stocks: | Amgen Inc., eBay Inc., Nike, Inc., AstraZeneca plc, Barrick Gold Corp., Credit Suisse Group Corp., PetroChina Co. Ltd., Research In Motion Ltd., SAP Corp., Sony Corp., UBS Corp. and Vodafone Group plc
|
| Amount: | $1,005,000
|
| Maturity: | Aug. 1, 2013
|
| Coupon: | The average of the performances of the basket stocks and ADSs, subject to a floor of 0%; if the return of stock or ADS is positive, its performance will be 5.5%; otherwise, its performance will be the greater of its return and negative 30%
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | July 27
|
| Settlement date: | July 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.25%
|
| Cusip: | 4042K03W3
|
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