By Jennifer Chiou
New York, April 5 - HSBC USA Inc. priced $2.74 million of 0% best-of performance notes due April 1, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index falls below the barrier level of 75% of the initial level during the life of the notes.
If a trigger event has occurred, the payout at maturity will be par plus the index return.
If a trigger event does not occur, the payout will be par plus the greater of the 18% contingent minimum return and the index return.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Best-of performance notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,743,000
|
| Maturity: | April 1, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus | the index return | if a trigger event occurs; if no trigger event occurs, par plus greater of 18% and index return
|
| Initial level: | 1,169.43
|
| Barrier level: | 877.07, 75% of initial price
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 4042K0T39
|
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