By Toni Weeks
San Diego, Nov. 23 - HSBC USA Inc. priced $5 million of buffered fixed-rate notes due Nov. 27, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes carry a coupon of 7.75%. Interest is payable on the maturity date.
If the final index level is at least 80% of the initial level, the payout at maturity will be par. Investors will be exposed to losses beyond the 20% buffer.
Investors will receive par if the index falls by up to 10% and will be exposed to declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered fixed-rate notes
|
| Underlying index: | Russell 2000
|
| Amount: | $5 million
|
| Maturity: | Nov. 27, 2012
|
| Coupon: | 7.75%, payable on Nov. 27, 2012
|
| Price: | Par
|
| Payout at maturity: | Par if index declines by up to 20%; exposure to losses beyond the 20% buffer
|
| Initial level: | 701.90
|
| Pricing date: | Nov. 21
|
| Settlement date: | Nov. 25
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 4042K1TB9
|
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