By E. Janene Geiss
Philadelphia, Aug. 28 - HSBC USA Inc. priced $2 million of 0% buffered enhanced market participation notes due Oct. 29, 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 27%.
Investors will receive par if the fund declines by up to 10% and will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. will be the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered enhanced market participation notes
|
| Underlying ETF: | Financial Select Sector SPDR fund (Symbol: XLF)
|
| Amount: | $1,998,000
|
| Maturity: | Oct. 29, 2009
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus triple any price gain, capped at 27%; par if shares decline by up to 10%; full exposure to any decline beyond 10%
|
| Initial share price: | $20.17
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
© 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.
