By Susanna Moon
Chicago, July 30 - HSBC USA Inc. priced $1.59 million of 0% buffered enhanced market participation notes due Sept. 30, 2009 linked to shares of the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus triple any gain in the fund's share price, up to a maximum return of 25.5%.
Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% drop in the fund beyond 10%.
HSBC Securities (USA) Inc. will be the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered enhanced market participation notes
|
| Underlying shares: | Financial Select Sector SPDR fund (Symbol: XLF)
|
| Amount: | $1,594,000
|
| Maturity: | Sept. 30, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus triple any price gain, capped at 25.5%; par if shares decline by up to 10%; lose 1% for each 1% decline past 10%
|
| Initial share price: | $19.89
|
| Pricing date: | July 28
|
| Settlement date: | July 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
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