By E. Janene Geiss
Philadelphia, Aug. 27 - HSBC USA Inc. priced a $5.49 million issue of 0% buffered return enhanced market participation notes due Aug. 31, 2011 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 43%. Investors will receive par if the index declines by 10% or less and will be exposed to any decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered return enhanced market participation notes
|
| Underlying index: | Russell 2000
|
| Amount: | $5.49 million
|
| Maturity: | Aug. 31, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus double any index gain, capped at 43%; par if index falls by 10% or less; 1% loss for every 1% decline beyond 10%
|
| Initial index level: | 584.02
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
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