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HSBC USA to price absolute return barrier notes linked to Russell 2000
By Angela McDaniels
Seattle, Sept. 5 - HSBC USA Inc. plans to price zero-coupon 100% principal protection absolute return barrier notes due March 31, 2009 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes are expected to price on Sept. 25 and settle on Sept. 28.
If the index never closes above the upper barrier or below the lower barrier during the life of the notes, the payout at maturity will be par of $10 plus the absolute value of the index return. Otherwise, the payout will be par.
The upper and lower barriers will be 29% to 32% above and below the initial index level, respectively.
UBS Financial Services Inc. will be the underwriter.
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