By Angela McDaniels
Tacoma, Wash., June 28 - HSBC USA Inc. priced $3.4 million of 0% capped participation notes due Jan. 26, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes priced at par of $212.40.
The payout at maturity will be a dollar amount equal to 92.79% of the amount by which the final index level exceeds 850, if any. This calculation will result in a loss if the final index level is less than 1,078.90. The payout will be capped at $352.60 per note, which is 166% of par.
If the final index level is less than or equal to 850, investors will receive nothing at maturity.
The initial index level - 1,077.70 - was selected by the calculation agent and is slightly higher than the index's closing level on the pricing date, which was 1,073.69.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Capped participation notes
|
| Underlying index: | S&P 500
|
| Amount: | $3,398,400
|
| Maturity: | Jan. 26, 2011
|
| Coupon: | 0%
|
| Price: | Par of $212.40
|
| Payout at maturity: | 92.79% of amount by which final index level exceeds 850, capped at $352.60 per note; if final index level does not exceed 850, nothing
|
| Initial index level: | 1,077.70
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40432R815
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
