By Susanna Moon
Chicago, March 20 - HSBC USA Inc. priced $7.06 million of 0% best of airbag notes due April 1, 2014 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 plus any index gain with a contingent minimum return of 33%.
If the index falls below the barrier level - 50% of its initial level - on any day during the life of the notes, the payout at maturity will be par plus the index return.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Best of airbag notes
|
| Underlying index: | S&P 500
|
| Amount: | $7.06 million
|
| Maturity: | April 1, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain with a contingent minimum return of 33%; if index falls by more than 50%, in which case par plus index return
|
| Initial index: | 794.3
|
| Pricing date: | March 18
|
| Settlement date: | April 1
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 5.15%
|
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