Published on 3/29/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $45.26 million of return enhanced notes linked to eight energy stocks
By Jennifer Chiou
New York, March 29 - HSBC USA Inc. priced $45.26 million of 0% return enhanced notes due April 12, 2011 linked to a basket of equally weighted stocks from the energy sector, according to a 424B2 filing with the Securities and Exchange Commission.
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 30%.
Investors will be exposed to any losses.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying stocks: | Chesapeake Energy Corp. (Symbol: CHK), El Paso Corp. (Symbol: EP), Southwestern Energy Co. (Symbol: SWN), Petrohawk Energy Corp. (Symbol: HK), Pioneer Natural Resources Co. (Symbol: PXD), Range Resources Corp. (Symbol: RRC), SandRidge Energy, Inc. (Symbol: SD) and Mariner Energy, Inc. (Symbol: ME)
|
| Amount: | $45.26 million
|
| Maturity: | April 12, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 300% of any basket gain, capped at 30%; exposure to losses
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 4042K0T96
|
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