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HSBC plans to sell 0% buffered return enhanced notes due 2011 tied to Asian indexes via JPMorgan
By Susanna Moon
Chicago, May 25 - HSBC USA Inc. plans to price 0% buffered return enhanced notes due June 17, 2011 based on a basket of five indexes, according to a 424B2 filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The basket consists of the Hang Seng China Enterprises Index with a 33% weight, Korea Stock Price Index 200 with a 24% weight, MSCI Taiwan index with a 21% weight, Hang Seng index with a 14% weight and MSCI Singapore index with an 8% weight.
The payout at maturity will be par plus double any basket gain, up to a maximum return of 22.2%.
Investors will receive par if the basket falls by up to 10% and will lose 1.11111% for each 1% drop beyond 10%.
The notes will price on May 28 and settle on June 3.
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