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HSBC to price return enhanced notes linked to S&P 500 via JPMorgan
By Angela McDaniels
Tacoma, Wash., July 14 - HSBC USA Inc. plans to price 0% return enhanced notes due Jan. 22, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
If the index return is greater than 10%, the payout at maturity will be par plus (a) 10% plus (b) triple the percentage increase in the index beyond 10%, subject to a maximum return of 22.15%.
If the index return is 10% or less, the payout will be par plus the index return. There is no principal protection, so investors will experience a loss if the index return is negative.
The notes will price July 17 and settle July 22.
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