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HSBC to sell return optimization securities linked to S&P 500 via UBS
By Jennifer Chiou
New York, May 21 - HSBC USA Inc. plans to price 0% return optimization securities due June 4, 2010 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 underwriters.
The payout at maturity will be par of $10 plus five times any gain in the index, up to a maximum return of 20% to 23%. The exact cap will be set at pricing.
Investors will share in any losses.
The notes are expected to price on May 27 and settle on May 29.
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