By Susanna Moon
Chicago, July 2 - HSBC USA Inc. priced $2 million of 0% buffered return enhanced notes due July 16, 2013 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 16.3%.
Investors will receive par if the index falls by up to 10% and will lose 1.11111% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered return enhanced notes
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $2 million
|
| Maturity: | July 16, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 16.3%; par if index declines by up to 10%; 1.11111% loss per 1% drop beyond 10%
|
| Initial level: | 915.74
|
| Pricing date: | June 28
|
| Settlement date: | July 3
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as agent
|
| Fees: | None
|
| Cusip: | 4042K1V42
|
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