By Jennifer Chiou
New York, March 6 - HSBC USA Inc. priced $1.99 million of 0% enhanced market participation notes due April 7, 2009 linked to shares of the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund's final share price is at least the initial share price, the payout at maturity will be par plus 200% of any gain on the fund, capped at a payout equal to 133% of par.
If the final share price is below the initial share price, the payout will be par times the fund performance.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Enhanced market participation notes
|
| Underlying fund: | Financial Select Sector SPDR
|
| Amount: | $1.99 million
|
| Maturity: | April 7, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any fund gain, capped at 133% of par; if final share price is below the initial share price, par times fund performance
|
| Initial share price: | $25.28
|
| Pricing date: | March 4
|
| Settlement date: | March 7
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 1.25%
|
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