By Susanna Moon
Chicago, April 28 - HSBC USA Inc. priced $1 million of 0% equity buffer notes due Jan. 29, 2010 linked to shares of the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double any gain in the share price, capped at 132% of par.
If the share price falls by up to 10%, the payout will be par. Investors will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Equity buffer notes
|
| Underlying shares: | Financial Select Sector SPDR fund (Symbol: XLF)
|
| Amount: | $1 million
|
| Maturity: | Jan. 29, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any price gain, capped at 32%; par if shares decline by up to 10%; lose 1% for each 1% decline past 10%
|
| Initial share price: | $26.48
|
| Pricing date: | April 24
|
| Settlement date: | April 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
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