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HSBC USA plans enhanced market participation notes linked to Financial Select Sector SPDR fund
By Angela McDaniels
Tacoma, Wash., July 3 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Sept. 30, 2009 linked to shares of the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any increase in the fund's share price, capped at a maximum return of 40%. Investors will be fully exposed to any share price decline.
The notes are expected to price on July 28 and settle on July 31.
HSBC Securities (USA) Inc. will be the agent.
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