By Susanna Moon
Chicago, March 24 - HSBC USA Inc. priced $1 million of 0% equity buffer notes due May 26, 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 final share price is at least the initial price, the payout at maturity will be par plus 150% of any gain in the share price, capped at a payout equal to 133% of par.
If the share price declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the shares decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Equity buffer notes
|
| Underlying shares: | Financial Select Sector SPDR exchange-traded fund (Symbol: XLF)
|
| Amount: | $1 million
|
| Maturity: | May 26, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any share price gain, capped at 33%; par if shares decline by up to 10%; investors lose 1% for each 1% decline past 10%
|
| Initial share price: | $26.32
|
| Pricing date: | March 20
|
| Settlement date: | March 26
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.45%
|
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