By Susanna Moon
Chicago, Feb. 23 - HSBC USA Inc. priced $1.4 million of 0% buffered Accelerated Market Participation Securities due Aug. 24, 2011 based on the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 16.5%.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond the buffer.
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: | Russell 2000
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Amount: | $1,404,000
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Maturity: | Aug. 24, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 16.5%; exposure to losses beyond 10%
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Initial level: | 631.62
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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: | 2.1%
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Cusip: | 4042K0N92
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