Published on 1/31/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $208,000 of bearish AMPS linked to Russell 2000 index
By Jennifer Chiou
New York, Jan. 31 - HSBC USA Inc. priced $208,000 of 0% bearish Accelerated Market Participation Securities due Aug. 1, 2012 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 200% of the absolute value of any index decline, subject to a maximum return of 21%. If the index gains, the payout will be par minus the return percentage.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Bearish Accelerated Market Participation Securities
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Underlying index: | Russell 2000
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Amount: | $208,000
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Maturity: | Aug. 1, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 2% for every 1% index decline, up to maximum return of 21%; par minus 1% for every 1% index gain
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Initial index level: | 795.43
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Pricing date: | Jan. 27
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Settlement date: | Feb. 1
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.1%
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Cusip: | 4042K1CM3
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