Published on 2/10/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2 million enhanced market participation notes on S&P 500
By Marisa Wong
Madison, Wis., Feb. 10 - HSBC USA Inc. priced $2 million of 0% enhanced market participation notes due Feb. 11, 2013 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 the index return, subject to a maximum return of 19%. Investors will receive at least $800 for each $1,000 principal amount.
J.P. Morgan Securities LLC is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Enhanced market participation notes
|
| Underlying index: | S&P 500
|
| Amount: | $2 million
|
| Maturity: | Feb. 11, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus index return, capped at 19%; investors will receive at least $800 per $1,000 note
|
| Initial index level: | 1,324.57
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 11
|
| Agent: | J.P. Morgan Securities LLC
|
| Fees: | 1.5%
|
| Cusip: | 4042K1DX8
|
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