Published on 2/11/2009 in the Prospect News Structured Products Daily.
New Issue: HSBC USA prices $11.65 million return enhanced notes linked to S&P 500 via JPMorgan
By Angela McDaniels
Tacoma, Wash., Feb. 11 - HSBC USA Inc. priced $11.65 million of 0% return enhanced notes due Feb. 22, 2010 linked to the S&P 500 index via agent J.P. Morgan Securities Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, subject to a maximum return of 28.5%. Investors will be fully exposed to any index decline.
The issuer noted that the initial index level used to the calculate the index return - 827.55 - is not equal to the closing level of the index on the pricing date, which was 827.16.
Issuer: | HSBC USA Inc.
|
Issue: | Return enhanced notes
|
Underlying index: | S&P 500
|
Amount: | $11,645,000
|
Maturity: | Feb. 22, 2010
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | Par plus triple any index gain, up to maximum return of 28.5%; full exposure to any index decline
|
Initial index level: | 827.55
|
Final index level: | Average of index's closing levels on Feb. 10, Feb. 11, Feb. 12, Feb. 16 and Feb. 17 of 2010
|
Pricing date: | Feb. 10
|
Settlement date: | Feb. 13
|
Agent: | J.P. Morgan Securities Inc.
|
Fees: | 1%
|
© 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.