Published on 4/27/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.32 million 15-month buffered AMPS on iShares MSCI Emerging Markets
By Marisa Wong
Milwaukee, April 27 - HSBC USA Inc. priced $1.32 million of 0% buffered Accelerated Market Participation Securities due July 28, 2011 based on the performance of the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any increase in the fund share price, up to a maximum return of 19%. Investors will receive par if the share price declines by up to 10% and will lose 1% for each 1% 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 fund: | iShares MSCI Emerging Markets
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Amount: | $1,317,000
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Maturity: | July 28, 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 share price increase, capped at 19%; exposure to losses beyond 10%
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Initial share price: | $43.05
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Pricing date: | April 23
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Settlement date: | April 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 4042K0V28
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