Published on 9/17/2008 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $3.63 million return optimization securities linked to S&P 500 via UBS
By Jennifer Chiou
New York, Sept. 17 - HSBC USA Inc. priced $3.63 million of 0% return optimization securities due Sept. 21, 2009 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus five times any gain on the index, subject to a maximum return of 19%. Investors will share in any losses.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return optimization securities
|
| Underlying index: | S&P 500
|
| Amount: | $3,626,490
|
| Maturity: | Sept. 21, 2009
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus five times any index gain, capped at maximum return of 19%; investors share in any losses
|
| Initial index level: | 1,251.7
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 1.25%
|
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