Published on 12/30/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $29.91 million two-year PLUS linked to S&P 500 with 15% cap
By Susanna Moon
Chicago, Dec. 30 - HSBC USA Inc. priced $29.91 million of 0% buffered Performance Leveraged Upside Securities due Jan. 30, 2012 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum of $11.50 per note.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the agent. It will use all of the fees to pay a sales commission to Morgan Stanley Smith Barney LLC.
Issuer: | HSBC USA Inc.
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Issue: | Buffered Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $29,913,800
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Maturity: | Jan. 30, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 15%; exposure to any losses
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Initial index level: | 1,257.54
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Pricing date: | Dec. 27
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Settlement date: | Dec. 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2% to be paid to Morgan Stanley Smith Barney LLC
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Cusip: | 40432R369
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