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HSBC USA to price bearish return optimization securities linked to Russell 2000
By Jennifer Chiou
New York, July 2 - HSBC USA Inc. plans to price 0% bearish return optimization securities due March 27, 2009 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 5% for each 1% decline in the index, subject to a maximum return of 30.85%. Investors will lose 1% for each 1% that the index increases.
The securities will price on July 3 and settle on July 9.
UBS Financial Services and HSBC USA Inc. are the underwriters.
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