By Angela McDaniels
Tacoma, Wash., April 20 - HSBC USA Inc. priced $2.61 million of 0% knock-out buffer notes due Oct. 22, 2010 linked to the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
If the exchange-traded fund's shares fall below the knock-out level - 70% of the initial share price - on any day during the life of the notes, the payout at maturity will be par plus the fund return.
Otherwise, the payout will be par plus the greater of the fund return and 25%.
| Issuer: | HSBC USA Inc.
|
| Issue: | Knock-out buffer notes
|
| Underlying ETF: | iShares MSCI Brazil index fund
|
| Amount: | $2.61 million
|
| Maturity: | Oct. 22, 2010
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If fund shares fall below 70% of initial share price on any day during life of notes, par plus fund return; otherwise, par plus greater of fund return and 25%
|
| Initial share price: | $43.82
|
| Pricing date: | April 17
|
| Settlement date: | April 22
|
| Agent: | J.P. Morgan Securities Inc.
|
| Fees: | 1.25%
|
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