This information is furnished to you solely by Greenwich Capital Markets, Inc.
and not by the issuer of the securities or any of its affiliates. Greenwich
Capital Markets, Inc. is acting as Underwriter and not acting as Agent for the
issuer or its affiliates in connection with the proposed
transaction.
This Preliminary Term Sheet is provided for information purposes only, and does
not constitute an offer to sell, nor a solicitation of an offer to buy, the
referenced securities. It does not purport to be all-inclusive or to contain
all of the information that a prospective investor may require to make a
full analysis of the transaction. All amounts are approximate and subject
to change. The information contained herein supersedes information contained
in any prior term sheet for this transaction. In addition, the information
contained herein will be superseded by information contained in term sheets
circulated after the date hereof and by information contained in the Prospectus
and Prospectus Supplement for this transaction. An offering may be made only
through the delivery of the Prospectus and Prospectus Supplement.
Preliminary Term Sheet Date Prepared: October 26, 2000
HSBC MORTGAGE CORPORATION (USA)
Mortgage Pass-Through Certificates, Series 2000-HSBC1
HSBC
$389,122,000 (Approximate, Subject to Final Collateral)
Publicly Offered Certificates
5/1 Jumbo Adjustable Rate Residential Mortgage Loans
GREENWICH CAPITAL
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See Disclaimer on Page 1 of this Preliminary Term Sheet 1
<PAGE>
COMPUTATIONAL MATERIALS DISCLAIMER
The attached tables and other statistical analyses (the "Computational
Materials") are privileged and intended for use by the addressee only. These
Computational Materials have been prepared by Greenwich Capital Markets, Inc.
in reliance upon information furnished by the issuer of the securities and its
affiliates. These Computational Materials are furnished to you solely by
Greenwich Capital Markets, Inc. and not by the issuer of the securities. They
may not be provided to any third party other than the addressee's legal, tax,
financial and/or accounting advisors for the purposes of evaluating said
material.
Numerous assumptions were used in preparing the Computational Materials, which
may or may not be reflected therein. As such, no assurance can be given as to
the Computational Materials' accuracy, appropriateness or completeness in any
particular context; nor as to whether the Computational Materials and/or the
assumptions upon which they are based reflect present market conditions or
future market performance. These Computational Materials should not be
construed as either projections or predictions or as legal, tax, financial or
accounting advice.
Any weighted average lives, yields and principal payment periods shown in the
Computational Materials are based on prepayments assumptions, and changes in
such prepayment assumptions may dramatically affect such weighted average
lives, yields and principal payment periods. In addition, it is possible that
prepayments on the underlying assets will occur at rates slower or faster than
the rates shown in the attached Computational Materials. Furthermore, unless
otherwise provided, the Computational Materials assume no losses on the
underlying assets and no interest shortfall. The specific characteristics of
the securities may differ from those shown in the Computational Materials due
to differences between the actual underlying assets and the hypothetical
underlying assets used in preparing the Computational Materials. The principal
amount and designation of any security described in the Computational
Materials are subject to change prior to issuance. Neither Greenwich Capital
Markets, Inc. nor any of its affiliates makes any representation or warranty
as to the actual rate or timing of payments on any of the underlying assets or
the payments or yield on the securities.
Although a registration statement (including the Prospectus) relating to the
securities discussed in this communication has been filed with the Securities
and Exchange Commission and is effective, the final prospectus supplement
relating to the securities discussed in this communication has not been filed
with Securities and Exchange Commission. This communication shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities discussed in this communication in any
state in which such offer, solicitation or sale would be unlawful prior to
registration or qualification of such securities under the securities laws of
any such state. Prospective purchasers are referred to the final prospectus
supplement relating to the securities discussed in this communication for
definitive Computational Materials and any matter discussed in this
communication. Once available, a final prospectus and prospectus supplement
may be obtained by contacting the Greenwich Capital Markets, Inc. Trading Desk
at (203) 625-6160.
Please be advised that the securities described herein may not be appropriate
for all investors. Potential investors must be willing to assume, among other
things, market price volatility, prepayment, yield curve and interest rate
risks. Investors should make every effort to consider the risks of these
securities.
If you have received this communication in error, please notify
the sending party immediately by telephone and return the original to such
party by mail.
GREENWICH CAPITAL 6
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See Disclaimer on Page 10 of these Marketing Materials.
<PAGE>
This information is provided to you solely by Greenwich Capital Markets,
Inc. ("GCM") and not by the issuer of the securities or any of its affiliates.
GCM is acting as underwriter and not as agent for its affiliates in connection
with the proposed transaction.
<TABLE>
<CAPTION>
Yield Tables (%)
Class A-1 to Put
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 99-25+ 6.999 6.978 6.956 6.927 6.866 6.826 6.784
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 1.49 1.20 1.00 0.82 0.59 0.50 0.43
MDUR (yr) 1.35 1.10 0.93 0.77 0.56 0.48 0.41
First Prin Pay 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00
Last Prin Pay 01/18/04 05/18/03 12/18/02 07/18/02 01/18/02 11/18/01 09/18/01
Class A-1 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 99-25+ 6.999 6.978 6.956 6.927 6.866 6.826 6.784
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 1.49 1.20 1.00 0.82 0.59 0.50 0.43
MDUR (yr) 1.35 1.10 0.93 0.77 0.56 0.48 0.41
First Prin Pay 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00 12/18/00
Last Prin Pa 01/18/04 05/18/03 12/18/02 07/18/02 01/18/02 11/18/01 09/18/01
Class A-2 to Put
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 99-28 7.027 7.023 7.016 7.003 6.969 6.947 6.922
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 3.63 3.40 3.07 2.58 1.83 1.53 1.30
MDUR (yr) 3.11 2.93 2.67 2.28 1.66 1.40 1.20
First Prin Pay 01/18/04 05/18/03 12/18/02 07/18/02 01/18/02 11/18/01 09/18/01
Last Prin Pay 07/18/04 07/18/04 07/18/04 07/18/04 06/18/03 01/18/03 09/18/02
Class A-2 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 99-28 7.190 7.078 7.029 7.003 6.969 6.947 6.922
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 4.77 3.83 3.18 2.58 1.83 1.53 1.30
MDUR (yr) 3.91 3.24 2.76 2.28 1.66 1.40 1.20
First Prin Pay 01/18/04 05/18/03 12/18/02 07/18/02 01/18/02 11/18/01 09/18/01
Last Prin Pay 08/18/07 04/18/06 05/18/05 07/18/04 06/18/03 01/18/03 09/18/02
GREENWICH CAPITAL 7
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See Disclaimer on Page 6 of these Marketing Materials.
</TABLE>
<PAGE>
This information is provided to you solely by Greenwich Capital Markets,
Inc. ("GCM") and not by the issuer of the securities or any of its affiliates.
GCM is acting as underwriter and not as agent for its affiliates in connection
with the proposed transaction.
<TABLE>
<CAPTION>
Yield Tables (%)
Class A-3 to Put
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100-00 6.988 6.988 6.988 6.988 6.982 6.975 6.966
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 3.68 3.68 3.68 3.68 3.47 3.24 2.98
MDUR (yr) 3.14 3.14 3.14 3.14 2.99 2.81 2.60
First Prin Pay 07/18/04 07/18/04 07/18/04 07/18/04 06/18/03 01/18/03 09/18/02
Last Prin Pay 07/18/04 07/18/04 07/18/04 07/18/04 07/18/04 07/18/04 07/18/04
Class A-3 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 100-00 7.739 7.656 7.568 7.455 7.273 7.187 7.116
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 13.02 10.79 9.11 7.43 5.25 4.36 3.67
MDUR (yr) 7.81 6.94 6.20 5.37 4.12 3.54 3.06
First Prin Pay 08/18/07 04/18/06 05/18/05 07/18/04 06/18/03 01/18/03 09/18/02
Last Prin Pay 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30
Class B-1 to Call
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 98-11 7.899 7.828 7.765 7.703 7.621 7.588 7.576
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 10.59 8.62 7.16 5.93 4.49 3.87 3.43
MDUR(yr) 6.91 6.03 5.27 4.58 3.67 3.23 2.92
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 09/18/16 11/18/13 10/18/11 10/18/09 03/18/07 02/18/06 05/18/05
Class B-1 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 98-11 7.914 7.851 7.797 7.745 7.685 7.666 7.656
-----------------------------------------------------------------------------------------------------------------------------------
WAL(yr) 11.56 9.56 8.00 6.67 5.13 4.47 4.01
MDUR (yr) 7.13 6.29 5.56 4.88 4.00 3.58 3.28
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30
GREENWICH CAPITAL 8
-------------------------------------------------------------------------------
See Disclaimer on Page 6 of these Marketing Materials.
</TABLE>
<PAGE>
This information is provided to you solely by Greenwich Capital Markets,
Inc. ("GCM") and not by the issuer of the securities or any of its affiliates.
GCM is acting as underwriter and not as agent for its affiliates in connection
with the proposed transaction.
<TABLE>
<CAPTION>
Yield Tables (%)
Class B-2 to Call
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 96-31+ 8.100 8.059 8.029 8.007 8.000 8.018 8.053
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 10.59 8.62 7.16 5.93 4.49 3.87 3.43
MDUR (yr) 6.87 5.99 5.25 4.55 3.65 3.22 2.90
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 09/18/16 11/18/13 10/18/11 10/18/09 03/18/07 02/18/06 05/18/05
Class B-2 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 96-31+ 8.109 8.073 8.047 8.031 8.033 8.054 8.081
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 11.56 9.56 8.00 6.67 5.13 4.47 4.01
MDUR (yr) 7.08 6.25 5.52 4.85 3.98 3.56 3.25
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30
Class B-3 to Call
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 92-10+ 8.822 8.886 8.973 9.094 9.354 9.554 9.757
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 10.59 8.62 7.16 5.93 4.49 3.87 3.43
MDUR (yr) 6.72 5.88 5.15 4.47 3.59 3.17 2.86
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 09/18/16 11/18/13 10/18/11 10/18/09 03/18/07 02/18/06 05/18/05
Class B-3 to Maturity
Coupon: 6.99%
-----------------------------------------------------------------------------------------------------------------------------------
Prepay Speed 12% CPR 15% CPR 18% CPR 22% CPR 30% CPR 35% CPR 40% CPR
-----------------------------------------------------------------------------------------------------------------------------------
Yield @ 92-10+ 8.811 8.867 8.946 9.055 9.281 9.448 9.605
-----------------------------------------------------------------------------------------------------------------------------------
WAL (yr) 11.56 9.56 8.00 6.67 5.13 4.47 4.01
MDUR (yr) 6.91 6.10 5.39 4.73 3.89 3.48 3.18
First Prin Pay 01/18/06 01/18/05 04/18/04 09/18/03 11/18/02 07/18/02 05/18/02
Last Prin Pay 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30 07/18/30
GREENWICH CAPITAL 9
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See Disclaimer on Page 6 of these Marketing Materials.
</TABLE>
