Published on 2/23/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.46 million 15-month AMPS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 23 - HSBC USA Inc. priced $1.46 million of 0% Accelerated Market Participation Securities due May 24, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, subject to a maximum return of 18%. Investors will be exposed to any index decline.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Accelerated Market Participation Securities
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Underlying index: | S&P 500
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Amount: | $1,459,000
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Maturity: | May 24, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple any index gain, up to maximum return of 18%; exposure to any index decline
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Initial index level: | 1,109.17
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Pricing date: | Feb. 19
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Settlement date: | Feb. 24
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.75%
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Cusip: | 4042K0N35
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