Published on 4/1/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $10,000 more buffered AMPS linked to Russell 2000
By Susanna Moon
Chicago, April 1 - HSBC USA Inc. priced another $10,000 of 0% buffered Accelerated Market Participation Securities due June 29, 2011 based on the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $2.27 million. HSBC originally issued $2.26 million of the notes.
The payout at maturity will be par plus double any index gain, up to a maximum return of 15%.
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: | $2,268,000, up from $2,258,000
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Maturity: | June 29, 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 15%; exposure to losses beyond 10%
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Initial level: | 683.68
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Pricing date: | March 24
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Settlement dates : | March 29 for $2,268,000; April 1 for $10,000
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 4042K0S48
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