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HSBC plans performance securities tied to Hang Seng China Enterprises
By Angela McDaniels
Tacoma, Wash., Aug. 3 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due Aug. 29, 2014 linked to the Hang Seng China Enterprises 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 100% to 108% of the return. The exact participation rate will be set at pricing.
If the index return is between zero 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 Aug. 27 and settle Aug. 31.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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