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HSBC to price bearish accelerated market participation notes due 2010 linked to S&P 500 index
By E. Janene Geiss
Philadelphia, Nov. 24 - HSBC USA Inc. plans to price 0% bearish accelerated market participation securities due Dec. 30, 2010 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 the absolute value of any index decline, subject to a maximum return that is expected to be 16% to 19% and will be set at pricing. Investors will lose 1% for every 1% that the index increases.
The notes will price on Nov. 24 and settle on Nov. 30.
HSBC Securities (USA) Inc. is the agent.
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