By Angela McDaniels
Seattle, May 30 - HSBC USA Inc. priced a $5.8 million issue of 0% performance securities with partial protection due May 28, 2010 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 60% weight, the Dow Jones Euro Stoxx 50 index with a 20% weight and the Nikkei 225 index with a 20% weight.
The payout at maturity will be par of $10 plus 113.3% of any basket gain. Investors will receive par if the index declines by 20% or less and will lose 1% for each 1% decline beyond 20%.
UBS Financial Services, Inc. is agent, with HSBC USA Inc. as joint agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance securities
|
| Underlying indexes: | S&P 500 (60% weight), Dow Jones Euro Stoxx 50 (20% weight), Nikkei 225 (20% weight)
|
| Amount: | $5.8 million
|
| Maturity: | May 28, 2010
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 113.3% of any basket gain; par if basket falls by 20% or less; 1% loss for each 1% drop beyond 20%
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agents: | UBS Financial Services, Inc., HSBC USA Inc.
|
| Fees: | 1.75%
|
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