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HSBC USA plans enhanced market participation notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 3 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Sept. 30, 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 triple any index gain, capped at a maximum return of 20%. Investors will be fully exposed to any index 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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