Published on 5/25/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.22 million buffered AMPS linked to Russell 2000 index
By Angela McDaniels
Tacoma, Wash., May 25 - HSBC USA Inc. priced $1.22 million of 0% buffered Accelerated Market Participation Securities due Aug. 26, 2011 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 21.5%. Investors will receive par if the index declines by 10% or less 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: | Russell 2000
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Amount: | $1,223,000
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Maturity: | Aug. 26, 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, up to maximum return of 21.5%; par if index declines by 10% or less; 1% loss for each 1% decline beyond 10%
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Initial index level: | 649.29
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Pricing date: | May 21
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Settlement date: | May 26
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 4042K0X83
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