Published on 12/24/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.63 million equity buffer notes linked to Berkshire Hathaway
By Angela McDaniels
Tacoma, Wash., Dec. 24 - HSBC USA Inc. priced $1.63 million of 0% equity buffer notes due Dec. 29, 2011 linked to the class B common stock of Berkshire Hathaway Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any share price gain, subject to a maximum return of 33%. Investors will receive par if the share price falls by 20% or less and will lose 1% for every 1% that the share price declines beyond 20%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Equity buffer notes
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Underlying stock: | Berkshire Hathaway Inc., class B (NYSE: BRK.B)
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Amount: | $1,627,000
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Maturity: | Dec. 29, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any share price gain, up to maximum return of 33%; par if share price falls by 20% or less; 1% loss for every 1% decline beyond 20%
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Initial share price: | $3,143.00
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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