Published on 8/26/2010 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $344,000 buffered AMPS linked to iShares FTSE/Xinhua China 25
By Angela McDaniels
Tacoma, Wash., Aug. 26 - HSBC USA Inc. priced $344,000 of 0% buffered Accelerated Market Participation Securities due Feb. 29, 2012 linked to the iShares FTSE/Xinhua China 25 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, subject to a maximum return of 18.5%. Investors will receive par if the share price falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
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 FTSE/Xinhua China 25 index fund
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Amount: | $344,000
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Maturity: | Feb. 29, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any fund gain, up to maximum return of 18.5%; par if fund falls by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial share price: | $39.58
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Pricing date: | Aug. 24
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Settlement date: | Aug. 27
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.35%
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Cusip: | 4042K04P7
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