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HSBC to sell buffered return enhanced notes linked to S&P 500 via JPMorgan
By Susanna Moon
Chicago, Nov. 25 - HSBC USA Inc. plans to price 0% return enhanced notes due May 29, 2009 linked to the S&P 500 index via J.P. Morgan Securities Inc., according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par plus double any gain on the index, up to a maximum return of 20.10%.
Investors will receive par if the index falls by up to 10% and will lose 1.1111% for each 1% decline beyond 10%.
The notes are expected to price on Nov. 26 and settle on Dec. 2.
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