By Susanna Moon
Chicago, Aug. 26 - HSBC USA Inc. priced $1.18 million of 0% buffered Accelerated Market Participation Securities due Nov. 30, 2011 based on the performance of the Russell 2000 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 23%.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities
|
| Underlying index: | Russell 2000
|
| Amount: | $1,176,000
|
| Maturity: | Nov. 30, 2011
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 23%; 1% loss per 1% drop beyond 10%
|
| Initial index level: | 595.59
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 4042K04J1
|
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