By Angela McDaniels
Tacoma, Wash., Nov. 3 - HSBC USA Inc. priced $1.43 million of 0% participation notes due Jan. 21, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The notes have a face amount of $20.41 each.
The payout at maturity will be $1,000 multiplied by the index strike return, which is equal to the quotient of a) the final index level minus the strike level divided by b) the initial index level.
The initial index level is 1,041, which was an intraday level of the index on the pricing date, and the strike level is 1,100. As a result, the final index level must be greater than the strike level by at least 2.041% in order for investors to receive more than par at maturity.
| Issuer: | HSBC USA Inc.
|
| Issue: | Participation notes
|
| Underlying index: | S&P 500
|
| Amount: | $1,428,700
|
| Maturity: | Jan. 21, 2010
|
| Coupon: | 0%
|
| Price: | Par of $20.41
|
| Payout at maturity: | $1,000 multiplied by the quotient of a) the final index level minus the strike level divided by b) the initial index level
|
| Initial index level: | 1,041
|
| Strike level: | 1,100
|
| Pricing date: | Oct. 30
|
| Settlement date: | Nov. 4
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | None
|
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