Published on 11/14/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC USA sells $10 million return optimization securities linked to S&P 500 via UBS
By Susanna Moon
Chicago, Nov. 14 - HSBC USA Inc. priced $10 million of 0% return optimization securities due May 17, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par of $10 plus five times any gain on the index, up to a maximum return of 39.6%. Investors will share in any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
Issuer: | HSBC USA Inc.
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Issue: | Return optimization securities
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Underlying index: | S&P 500
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Amount: | $10 million
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Maturity: | May 17, 2010
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus five times any index gain, capped at 39.6%; exposure to losses
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Initial index level: | 870
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Pricing date: | Nov. 12
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Settlement date: | Nov. 17
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Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 1.75%
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