By E. Janene Geiss
Philadelphia, Dec. 1 - HSBC USA Inc. priced $1.72 million of 0% equity buffer notes due Dec. 28, 2009 linked to an index basket, according to a 424B3 filing with the Securities and Exchange Commission.
The basket consists of equal weights of the S&P 500, Russell 2000 and the iShares MSCI EAFE index fund.
Payout at maturity will be par plus any gain on the basket, up to a maximum return of 18.5%. The payout will be par if the basket declines by up to 15%. Investors will lose 1% for every 1% the basket declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Equity buffer notes
|
| Underlying basket: | Equal weights of the S&P 500, Russell 2000 and iShares MSCI EAFE index fund
|
| Amount: | $1.72 million
|
| Maturity: | Dec. 28, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain on the basket, capped at 18.5%; par if the index declines by 15% or less; full exposure to any decline beyond 15%
|
| Initial price: | 851.81 for S&P 500; 436.80 for Russell 2000; $40.82 per share of iShares MSCI EAFE index fund
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 28
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
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