Published on 1/31/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $1.03 million 18-month bearish AMPS based on Russell 2000
By Susanna Moon
Chicago, Jan. 31 - HSBC USA Inc. priced $1.03 million of 0% bearish Accelerated Market Participation Securities due Aug. 1, 2012 based on the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double the absolute value of any index decline, up to a maximum return of 26%.
Investors will lose 1% for every 1% that the index advances.
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: | $1,027,000
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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 200% of absolute value of any index drop, capped at 26%; 1% loss 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: | 0.6%
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Cusip: | 4042K1CL5
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