Published on 11/25/2009 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.72 million step performance securities linked to S&P 500 via UBS
By Angela McDaniels
Tacoma, Wash., Nov. 25 - HSBC USA Inc. priced $6.72 million of 0% step performance securities due Nov. 30, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. is the agent.
If the index return is positive, the payout at maturity will be par of $10 plus the greater of 17.7% and the index return. If the index return is negative, investors will be fully exposed to the loss.
Issuer: | HSBC USA Inc.
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Issue: | Step performance securities
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Underlying index: | S&P 500
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Amount: | $6,720,980
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Maturity: | Nov. 30, 2011
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus greater of 17.7% and index return; if index return is negative, full exposure to the loss
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Initial index level: | 1,105.65
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | UBS Financial Services Inc.
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Fees: | 2%
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