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HSBC plans to price performance securities linked to S&P 500 via UBS
By Angela McDaniels
Tacoma, Wash., Nov. 30 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due Dec. 31, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
If the index return is positive, the payout at maturity will be par of $10 plus 102% to 112% of the index return. The exact participation rate will be set at pricing.
If the index return is between 0% and negative 50%, the payout will be par.
If the index return is less than negative 50%, the payout will be par plus the index return.
The notes are expected to price Dec. 28 and settle Dec. 31.
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