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HSBC USA plans to price best-of performance notes linked to S&P 500
By Marisa Wong
Milwaukee, May 10 - HSBC USA Inc. plans to price 0% best-of performance notes due June 3, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index falls below the barrier level - 75% of the initial level - during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative. Otherwise, the payout will be par plus the greater of the index return and a contingent minimum return of 16% to 20% that will be set at pricing.
The notes will price on May 28 and settle on June 3.
HSBC Securities (USA) Inc. is the agent.
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