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HSBC USA to price enhanced market participation notes linked to Energy Select Sector SPDR
By Angela McDaniels
Tacoma, Wash., Oct. 20 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Feb. 1, 2010 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any fund gain, subject to a maximum return that is expected to be 35% to 38% and will be set at pricing. Investors will be fully exposed to any fund decline.
The notes are expected to price Oct. 28 and settle Oct. 31.
HSBC Securities (USA) Inc. will be the agent.
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