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HSBC USA to price enhanced market participation notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 5 - HSBC USA Inc. plans to price 0% enhanced market participation notes due May 29, 2009 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 400% of any index gain, subject to a maximum payout that is expected to be 121.25% of par. The exact cap will be set at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price on March 24 and settle on March 27.
HSBC Securities (USA) Inc. will be the agent.
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