By E. Janene Geiss
Philadelphia, March 28 - HSBC USA Inc. priced an $8,020,450 issue of 0% performance securities with contingent protection due March 29, 2013 linked to the S&P 500 index, according to a 424B filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
The payout at maturity will be par plus 114.5% of any gain on the index.
If the final index level is less than the initial level but the index does not close below its trigger level - 50% of the initial level - during the life of the notes, the payout will be par. Otherwise, investors will lose 1% for each 1% decline in the index.
| Issue: | Performance securities with contingent protection
|
| Issuer: | HSBC USA Inc.
|
| Underlying index: | S&P 500
|
| Amount: | $8,020,450
|
| Maturity: | March 29, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 114.5% of any index gain; par if index never closes below the trigger level and finishes below the initial level; otherwise, 1% loss for each 1% index decline
|
| Initial index level: | 1,341.13
|
| Trigger level: | 50% of the initial index level
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 3.5%
|
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