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HSBC plans to price return optimization securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 4 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due Aug. 31, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, subject to a maximum return of 25% to 30% that will be set at pricing.
If the index declines by 25% or less, the payout will be par.
If the index declines by more than 25%, investors will be fully exposed to the decline.
The notes (Cusip: 40432R724) are expected to price Aug. 26 and settle Aug. 31.
UBS Financial Services Inc. is the agent.
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