New Issue: HSBC prices $1.19 million best-of performance notes tied to S&P 500

By Jennifer Chiou

New York, Oct. 4 - HSBC USA Inc. priced $1.19 million of 0% best-of performance notes due Oct. 4, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index's closing level remains at or above 75% of its initial level throughout the life of the notes, the payout at maturity will be par plus the greater of the index return and 9%. Otherwise, the payout will be par plus the index return, which could be positive or negative.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Best-of performance notes
Underlying index:	S&P 500
Amount:	$1.19 million
Maturity:	Oct. 4, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	If index's closing level remains at or above barrier level throughout life of notes, par plus greater of index return and 9%; otherwise, par plus index return with exposure to any losses
Initial index level:	1,141.2
Barrier level:	855.9, 75% of initial level
Pricing date:	Sept. 30
Settlement date:	Oct. 1
Agent:	HSBC Securities (USA) Inc.
Fees:	1.7%
Cusip:	4042K05R2

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.