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HSBC USA to price buffered return enhanced notes linked to S&P 500 via JPMorgan
By E. Janene Geiss
Philadelphia, Jan. 13 - HSBC USA, Inc. plans to price 0% buffered return enhanced notes due Feb. 3, 2010 linked to the S&P 500 index via agent J.P. Morgan Securities Inc., according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 24.2%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for each 1% that the index declines beyond 10%.
The final index level will be the average of the index's closing levels on the five consecutive trading days ending Jan. 29, 2010.
The notes will price on Jan. 15 and settle on Jan. 21.
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