Published on 6/1/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.52 million return enhanced notes linked to S&P 500
By Jennifer Chiou
New York, June 1 - HSBC USA Inc. priced $3.52 million of 0% return enhanced notes due June 13, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The final index level will be the average of the index's closing levels on the five days ending on June 8, 2012.
The payout at maturity will be par plus 200% of any increase in the index, subject to a maximum return of 18.46%. Investors will be exposed to any decline in the index.
J.P. Morgan Securities LLC is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying index: | S&P 500
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Amount: | $3,521,000
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Maturity: | June 13, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus double any index gain, up to a maximum return of 18.46%; exposure to any index decline
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Initial index level: | 1,331.1
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Final index level: | The average of the index's closing levels on the five days ending on June 8, 2012
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Pricing date: | May 27
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Settlement date: | June 2
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 4042K1HY2
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