By Toni Weeks
San Diego, Sept. 7 - HSBC USA Inc. priced $1.19 million of 0% return enhanced notes due Sept. 19, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 22.2%.
Investors will share in any losses.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
Issuer: | HSBC USA Inc.
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Issue: | Return enhanced notes
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Underlying index: | S&P 500 index
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Amount: | $1.19 million
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Maturity: | Sept. 19, 2012
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 22.2%; full exposure to losses
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Initial index level: | 1,173.97
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Pricing date: | Sept. 2
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Settlement date: | Sept. 8
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Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as agent
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Fees: | 1%
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Cusip: | 4042K1MX8
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