Published on 5/28/2009 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.38 million return optimization securities linked to S&P 500 via UBS
By E. Janene Geiss
Philadelphia, May 28 - HSBC USA Inc. priced $2.38 million of 0% return optimization securities due June 4, 2010 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 of $10 plus five times any index gain, subject to a maximum return of 23%. Investors will be fully exposed to any index decline.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
Issuer: | HSBC USA Inc.
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Issue: | Return optimization securities
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Underlying index: | S&P 500
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Amount: | $2,383,350
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Maturity: | June 4, 2010
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus five times any index gain, up to maximum return of 23%; full exposure to any index decline
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Initial index level: | 893.06
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Pricing date: | May 27
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Settlement date: | May 29
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Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 1.25%
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