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HSBC plans 15-month Accelerated Market Participation notes on S&P 500
By Susanna Moon
Chicago, Oct. 1 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due Jan. 30, 2012 based on the performance of the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum return of 16% to 20%. The exact cap will be set at pricing.
Investors will be exposed to any index decline.
The notes (Cusip 4042K06D2) will price on Oct. 25 and settle on Oct. 28.
HSBC Securities (USA) Inc. is the agent.
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