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HSBC plans return enhanced notes linked to eight stocks via JPMorgan
By Susanna Moon
Chicago, April 20 - HSBC USA Inc. plans to price 0% return enhanced notes due May 12, 2011 based on a basket of eight equally weighted stocks, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The underlying companies are Chesapeake Energy Corp., El Paso Corp., Southwestern Energy Co., Petrohawk Energy Corp., Pioneer Natural Resources Co., Range Resources Corp., SandRidge Energy, Inc. and Cabot Oil & Gas Corp.
The payout at maturity will be par plus triple any basket gain, up to a maximum return of 29.85%.
Investors will be exposed to any losses.
The notes will price on April 23 and settle on April 28.
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