By Susanna Moon
Chicago, Dec. 27 - HSBC USA Inc. priced $6.27 million 0% performance securities with contingent protection due Dec. 31, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above its initial level, the payout at maturity will be par plus 113% any gain on the index.
If the index finishes below its initial level but stays above the trigger level - 50% of the initial level - during the life of the notes, the payout will be par. Otherwise, investors will receive par times the index performance.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Performance securities with contingent protection
|
| Underlying index: | S&P 500
|
| Amount: | $6,267,540
|
| Maturity: | Dec. 31, 2012
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 113% of any basket gain; par if basket never closes below the trigger level; par minus the index decline if the basket closes below the trigger level
|
| Trigger level: | 50% of the initial basket level
|
| Initial index level: | 1,484.46
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 31
|
| Underwriters: | UBS Financial Services Inc., HSBC USA Inc.
|
| Fees: | 3.5%
|
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