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HSBC to price performance securities linked to S&P 500 index via UBS
By Angela McDaniels
Tacoma, Wash., June 30 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due July 31, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 120% to 130% of the 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 July 28 and settle July 31.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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