Published on 7/30/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $8.03 million performance securities linked to S&P 500 via UBS
New York, July 30 - HSBC USA Inc. priced an $8.03 million issue of 0% performance securities with contingent protection due July 29, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index never closes below the trigger level during the life of the notes, the payout at maturity will be par plus the greater of the index return and the contingent return of 25.5%.
If the index does close below the trigger level, the payout at maturity will be par plus the index return, which could be negative.
The trigger level is 75% of the initial level of the S&P 500.
UBS Financial Services Inc. and HSBC USA Inc. will be the underwriters.
Issuer: | HSBC USA Inc.
|
Issue: | 0% performance securities with contingent protection
|
Amount: | $8,033,560
|
Underlying index: | S&P 500 index
|
Maturity: | July 29, 2011
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index never closes below the trigger level during the life of the notes, par plus the greater of the index return and the contingent return of 25.5%; if the index does close below the trigger level, par plus the index return, which could be negative.
|
Initial index level: | 1,234.37
|
Trigger level: | 925.78, 75% of initial level
|
Pricing date: | July 28
|
Settlement date: | July 31
|
Underwriters: | UBS Financial Services Inc., HSBC USA Inc.
|
Fees: | 2.5%
|
© 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.