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HSBC USA to price one offering of S&P 500-linked return optimization securities per day through Nov. 21
By Angela McDaniels
Tacoma, Wash., Nov. 4 - HSBC USA Inc. plans to price 14 offerings of 0% return optimization securities due May 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
One offering will price on each trading day from Nov. 4 through Nov. 21. In each case, settlement will occur three trading days later.
The payout at maturity will be par of $10 plus five times any index gain, subject to a maximum return that is expected to be 35% to 40% and will be set at pricing. Investors will be fully exposed to any index decline.
UBS Financial Services Inc. is the underwriter.
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