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HSBC plans to price 0% PLUS linked to S&P 500 index
By Toni Weeks
San Diego, June 27 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due Aug. 28, 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 plus double any gain in the index, up to a maximum payment of $11.40 to $11.80 per $10 principal amount. The exact maximum payment will be set at pricing.
Investors will be fully exposed to any losses.
The notes (Cusip: 40433C734) are expected to price July 25 and settle July 28.
HSBC Securities (USA) Inc. is the agent.
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