Published on 5/25/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $1.23 million buffered AMPS linked to iShares MSCI Emerging Markets
By Angela McDaniels
Tacoma, Wash., May 25 - HSBC USA Inc. priced $1.23 million of 0% buffered Accelerated Market Participation Securities due Aug. 26, 2011 linked to 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 exchange-traded fund's share price, up to a maximum return of 24.5%. Investors will receive par if the share price 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 ETF: | iShares MSCI Emerging Markets index fund
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Amount: | $1,229,000
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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 share price gain, up to maximum return of 24.5%; par if share price declines by 10% or less; 1% loss for each 1% decline beyond 10%
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Initial share price: | $37.36
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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: | 4042K0X91
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