Published on 3/16/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $6.34 million return enhanced notes linked to energy stocks via JPMorgan
By Susanna Moon
Chicago, March 16 - HSBC USA Inc. priced $6.34 million of 0% return enhanced notes due March 31, 2011 based on a basket of equally weighted stocks from the energy sector, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The underlying companies are Chesapeake Energy Corp., El Paso Corp., Southwestern Energy Co., Petrohawk Energy Corp., Pioneer Natural Resources Co., Range Resources Corp., SandRidge Energy, Inc. and Mariner Energy, Inc.
The payout at maturity will be par plus triple any basket gain, up to a maximum return of 31.2%.
Investors will be exposed to any losses.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying stocks: | Chesapeake Energy Corp., El Paso Corp., Southwestern Energy Co., Petrohawk Energy Corp., Pioneer Natural Resources Co., Range Resources Corp., SandRidge Energy, Inc. and Mariner Energy, Inc.
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Amount: | $6,341,000
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Maturity: | March 31, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 300% of any basket gain, capped at 31.2%; exposure to losses
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Pricing date: | March 12
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Settlement date: | March 17
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Agent: | J.P. Morgan Securities Inc.
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Fees: | 1%
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Cusip: | 4042K0T47
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