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HSBC plans to price return optimization securities linked to S&P 500
By Toni Weeks
San Diego, Dec. 2 - HSBC USA Inc. plans to price 0% return optimization securities due Jan. 31, 2013 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 plus triple any gain in the index, up to a maximum return of 18.5% to 22.5%. The exact maximum return will be set at pricing.
Investors will be fully exposed to any losses.
The securities (Cusip: 40433K843) are expected to price Dec. 27 and settle Dec. 30.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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