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HSBC to sell buffered return enhanced notes on S&P 500 via JPMorgan
By Susanna Moon
Chicago, Dec. 15 - HSBC USA Inc. plans to price 0% buffered return enhanced notes due Jan. 14, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The payout at maturity will be par plus double any index gain, up to a maximum return of 15.1%.
Investors will receive par if the index falls by up to 10% and will lose 1.11111% for every 1% decline beyond 10%.
The notes will price on Dec. 18 and settle on Dec. 23.
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