Published on 5/14/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5 million buffered AMPS linked to S&P 500, iShares MSCI EAFE
By Angela McDaniels
Tacoma, Wash., May 14 - HSBC USA Inc. priced $5 million of 0% buffered Accelerated Market Participation Securities due May 17, 2011 linked to the least performing of the S&P 500 index and iShares MSCI EAFE index fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of the least-performing underlying is positive, the payout at maturity will be par plus double that return, subject to a maximum return of 13.5%. Investors will receive par if the least-performing underlying declines by 20% or less and will lose 1% for each 1% that it declines beyond 20%.
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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Underlyings: | S&P 500 index and iShares MSCI EAFE index fund
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Amount: | $5 million
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Maturity: | May 17, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double the return of the least-performing underlying if its return is positive, up to a cap of 13.5%; par if least-performing underlying declines by 20% or less; 1% loss for each 1% that it declines beyond 20%
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Initial levels: | 1,155.79 for index; $51.55 for fund
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Pricing date: | May 11
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Settlement date: | May 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.2%
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Cusip: | 4042K02B0
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