By Jennifer Chiou
New York, June 14 - HSBC USA Inc. priced $4.17 million of 0% return enhanced notes due June 18, 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 22, 2012.
The payout at maturity will be par plus 200% of any increase in the index, subject to a maximum return of 18%. 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: | $4.17 million
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Maturity: | June 18, 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%; exposure to any index decline
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Initial index level: | 1,270.98
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Final index level: The average of the index's closing levels on the five days ending on June 22, 2012
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Pricing date: | June 10
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Settlement date: | June 15
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 4042K1JU8
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