Published on 6/28/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.76 million return enhanced notes linked to S&P 500
By Jennifer Chiou
New York, June 28 - HSBC USA Inc. priced $2.76 million of 0% return enhanced notes due July 11, 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 July 6, 2012.
The payout at maturity will be par plus 200% of any increase in the index, subject to a maximum return of 19.1%. 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: | $2,757,000
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Maturity: | July 11, 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 19.1%; exposure to any index decline
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Initial index level: | 1,268.45
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Final index level: | Average of the index's closing levels on the five days ending on July 6, 2012
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Pricing date: | June 24
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Settlement date: | June 29
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Agent: | J.P. Morgan Securities LLC
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Fees: | 1%
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Cusip: | 4042K1KB8
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