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HSBC plans to price return enhanced notes linked to Oil Service Holdrs Trust via JPMorgan
By Angela McDaniels
Tacoma, Wash., July 1 - HSBC USA Inc. plans to price 0% return enhanced notes due Jan. 7, 2010 linked to the depositary receipts of the Oil Service Holdrs trust, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The payout at maturity will be par plus triple any increase in the depositary receipt price, subject to a maximum return of 27%. Investors will be fully exposed to any decline in the depositary receipt price.
The notes are expected to price July 2 and settle July 8.
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