Published on 12/29/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $100,000 more buffered AMPS tied to iShares FTSE/Xinhua China 25 fund
By Jennifer Chiou
New York, Dec. 28 - HSBC USA Inc. priced another $100,000 of 0% buffered Accelerated Market Participation Securities due June 27, 2012 linked to the iShares FTSE/Xinhua China 25 index fund, adding to the original $1.35 million, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, subject to a maximum return of 16%. Investors will receive par if the index fund declines by 10% or less and will lose 1% for every 1% decline 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 fund: | iShares FTSE/Xinhua China 25
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Amount: | $1,446,000 (up from $1,346,000)
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Maturity: | June 27, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, capped at 16%; par if fund share price falls by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial share price: | $43.21
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Pricing date: | Dec. 22 for $1,346,000; Dec. 23 for $100,000
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Settlement date: | Dec. 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.35%
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Cusip: | 4042K1BC6
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