By Toni Weeks
San Diego, Aug. 28 - HSBC USA Inc. priced $1.11 million of 9% autocallable yield notes due Aug. 30, 2013 linked to the Russell 2000 index and the SPDR S&P Metals & Mining exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes will be called at par if the closing level of each underlying component is at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless either component falls below its trigger level - 60% of its initial level - during the life of the notes and the return of the worst-performing component is negative, in which case investors will receive par plus the return of the worst-performing component.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Autocallable yield notes
|
| Underlying components: | Russell 2000 and SPDR S&P Metals & Mining exchange-traded fund
|
| Amount: | $1,106,000
|
| Maturity: | Aug. 30, 2013
|
| Coupon: | 9%, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any component falls below the 60% trigger level during the life of the notes and return of worst-performing component is negative, in which case par plus return of worst-performing component
|
| Initial levels: | 809.19 for Russell, $41.95 for metals fund
|
| Trigger levels: | 60% of initial levels
|
| Call: | At par if both components are at or above their initial levels on any quarterly call observation date beginning Nov. 27
|
| Pricing date: | Aug. 24
|
| Settlement date: | Aug. 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.6%
|
| Cusip: | 4042K13A9
|
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