New Issue: HSBC prices $1.02 million equity buffer notes linked to Financial Select Sector SPDR fund

By E. Janene Geiss

Philadelphia, Nov. 26 - HSBC USA Inc. priced $1.02 million of 0% equity buffer notes due Jan. 28, 2010 linked to the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain on the fund, subject to a maximum return of 38%. Investors will receive par if the fund falls by 20% or less and will lose 1% for every 1% that the fund declines beyond 20%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Equity buffer notes
Underlying fund:	Financial Select Sector SPDR fund
Amount:	$1,016,890
Maturity:	Jan. 28, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any fund gain, capped at maximum return of 38%; par if fund falls by 20% or less; 1% loss for every 1% decline beyond 20%
Initial fund level:	$10.90
Pricing date:	Nov. 24
Settlement date:	Nov. 28
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.