By Laura Lutz
Des Moines, Feb. 28 - HSBC USA Inc. priced a $6.71 million issue of 0% performance securities with contingent protection due Feb. 28, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least the initial index level, the payout at maturity will be par plus 115% of any gain on the index.
If the final index level is less than the initial level but the index does not close below it trigger level - 50% of the initial level - during the life of the notes, the payout will be par.
If the final level is less than the initial level and the index has closed below the trigger level, investors will receive par times the index performance.
UBS Financial Services Inc. and HSBC USA Inc. will be the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | 0% performance securities with contingent protection
|
| Amount: | $6,714,430
|
| Underlying index: | S&P 500 index
|
| Maturity: | Feb. 28, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 115% of any positive return if index gains; par if final index level is below initial level but stays above 50% of initial level during life of notes; otherwise, par times index performance
|
| Initial index level: | 1,381.29
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 29
|
| Underwriters: | UBS Financial Services Inc., HSBC USA Inc.
|
| Fees: | 3.5%
|
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