Published on 1/26/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $215,000 buffered accelerated market participation notes tied to Hang Seng China
By Angela McDaniels
Tacoma, Wash., Jan. 26 - HSBC USA Inc. priced $215,000 of 0% buffered accelerated market participation securities due April 27, 2011 linked to the Hang Seng China Enterprises 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 20%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered accelerated market participation securities
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Underlying index: | Hang Seng China Enterprises
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Amount: | $215,000
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Maturity: | April 27, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, subject to maximum return of 20%; par if index falls by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial index level: | 11,858.46
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Pricing date: | Jan. 25
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Settlement date: | Jan. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 4042K0K38
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