By Angela McDaniels
Tacoma, Wash., Oct. 18 - HSBC USA Inc. priced $6.01 million of 0% twin win notes due April 18, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A trigger event will occur if the index closes below the trigger level, 65% of the initial level, during the life of the notes.
If a trigger event does not occur, the payout at maturity will be
• Par plus the lesser of the index return and 23% if the index return is positive; or
• Par plus the absolute value of the index return if the index return is negative.
If a trigger event does occur, the payout will be par plus the lesser of the index return, which could be positive or negative, and 23%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Twin win notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,005,000
|
| Maturity: | April 18, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index closes below trigger level during life of notes, par plus lesser of index return and 23%; otherwise, par plus lesser of index return and 23% if index return is positive or par plus absolute value of index return if index return is negative
|
| Initial index level: | 1,224.58
|
| Trigger level: | 795.977, 65% of initial level
|
| Pricing date: | Oct. 14
|
| Settlement date: | Oct. 19
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 4042K1QM8
|
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