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HSBC USA to price enhanced market participation notes linked to S&P 500
By Jennifer Chiou
New York, Oct. 1 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Jan. 27, 2010 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 300% of any index gain, subject to a maximum return that is expected to be 20% to 22% and will be set at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price on Oct. 28 and settle on Oct. 31.
HSBC Securities (USA) Inc. is the agent.
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