Published on 7/14/2009 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $758,500 bearish return optimization securities linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., July 14 - HSBC USA Inc. priced $758,500 of 0% bearish return optimization securities due Jan. 15, 2010 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is less than the initial level, the payout at maturity will be par of $10 plus triple the absolute value of the decline, subject to a maximum return of 17.2%.
If the final index level is greater than the initial level, the payout will be par minus 1% for every 1% index gain.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
Issuer: | HSBC USA Inc.
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Issue: | Bearish return optimization securities
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Underlying index: | Russell 2000
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Amount: | $758,500
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Maturity: | Jan. 15, 2010
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is negative, par plus triple the absolute value of the decline, up to maximum return of 17.2%; if index return is positive, par minus the return
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Initial index level: | 480.98
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Pricing date: | July 10
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Settlement date: | July 15
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Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 0.6%
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