By Susanna Moon
Chicago, Sept. 20 - HSBC USA Inc. priced $24.18 million of 0% return enhanced notes due Dec. 28, 2010 based on the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The payout at maturity will be par plus double any index gain, up to a maximum return of 12.3%.
Investors will be exposed to any losses.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying index: | Russell 2000
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Amount: | $24.18 million
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Maturity: | Dec. 28, 2010
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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, capped at 12.3%; exposure to losses
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Initial index level: | 649.60
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Pricing date: | Sept. 16
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Settlement date: | Sept. 21
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Agent: | J.P. Morgan Securities Inc.
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Fees: | 0.25%
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Cusip: | 4042K05U5
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