Published on 3/25/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $9.13 million bearish return optimization securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 25 - HSBC USA Inc. priced $9.13 million of 0% bearish return optimization securities due March 27, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 5% for each 1% decline in the index, subject to a maximum return of 24.5%. Investors will lose 1% for each 1% that the index increases.
UBS Financial Services and HSBC USA Inc. are the underwriters.
Issuer: | HSBC USA Inc.
|
Issue: | Bearish return optimization securities
|
Underlying index: | S&P 500
|
Amount: | $9,125,000
|
Maturity: | March 27, 2009
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus five times the absolute value of any index decline, capped at maximum return of 24.5%; 1% loss for each 1% index gain
|
Initial index level: | 1,329.51
|
Pricing date: | March 20
|
Settlement date: | March 26
|
Underwriters: | UBS Financial Services and HSBC USA Inc.
|
Fees: | 1.25%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.