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HSBC plans 15-month Accelerated Market Participation notes on S&P 500
By Susanna Moon
Chicago, Sept. 1 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due Dec. 29, 2011 based on the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, up to a maximum return of 18% to 22%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes (Cusip 4042K05D3) will price on Sept. 23 and settle on Sept. 28.
HSBC Securities (USA) Inc. is the agent.
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