By Susanna Moon
Chicago, Feb. 2 - HSBC USA Inc. priced $2.13 million of 0% callable accelerated market participation securities with contingent protection due Feb. 3, 2012 based on the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain.
Investors will receive par if the index falls by up to 25% and will receive par plus the index return if it declines beyond 25%.
The notes are callable on Feb. 4, 2011 at 107.5% of par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable accelerated market participation securities with contingent protection
|
| Underlying index: | S&P 500
|
| Amount: | $2,125,000
|
| Maturity: | Feb. 3, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain; par if index falls by 25% or less; par plus index return if it falls beyond 25%
|
| Call option: | At 107.5% of par on Feb. 4, 2011
|
| Initial level: | 1,073.87
|
| Pricing date: | Jan. 29
|
| Settlement date: | Feb. 3
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 4042K0N27
|
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