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UBS to price return optimization securities linked to MSCI EAFE for HSBC
By E. Janene Geiss
Philadelphia, May 23 - HSBC USA Inc. plans to price an issue of 0% return optimization securities with partial protection due Dec. 31, 2009 linked to the MSCI EAFE Index, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
If the final index level is at least the initial level, the payout at maturity will be par plus double any gain on the index, subject to a maximum payout of 18% to 21% of par. The exact cap will be set at pricing.
If the index declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 10%.
The notes are expected to price June 25 and settle June 30.
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