By E. Janene Geiss
Philadelphia, March 30 - HSBC USA Inc. priced an $8.6 million issue of 0% barrier optimization securities with partial protection due April 1, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
If the index never closes above its return barrier - 134.84% of the initial level - on any trading day, the payout at maturity will be par of $10 plus any gain on the index.
If the index closes above its return barrier, the payout will be par plus 3%.
Investors will receive par for losses up to 25% and will share in any losses beyond 25%.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier optimization securities with partial protection
|
| Underlying index: | S&P 50
|
| Amount: | $8,597,280
|
| Maturity: | April 1, 2010
|
| Coupon: | 3%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any index gain if index stays 134.84% below its initial level; par plus 3% if index closes above barrier; par if index falls by 25% or less and share in losses beyond 25%
|
| Initial index level: | 832.86
|
| Return barrier: | 1,123.03, 134.84% above its initial level
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriters: | UBS Financial Services Inc., HSBC USA Inc.
|
| Fees: | 1.25%
|
© 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.
