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HSBC plans 0% enhanced market participation notes linked to Financial Select Sector
By Laura Lutz
Des Moines, Feb. 1 - HSBC USA Inc. plans to price 0% enhanced market participation notes due March 19, 2009 linked to shares of the Financial Select Sector SPDR exchange traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least the initial level, the payout will be par plus 200% of any gain on the index, capped at a payout equal to 131% of par.
If the final index level is below the initial level, the payout will be par times the index performance.
The notes are expected to price on Feb. 15 and settle on Feb. 21.
HSBC Securities (USA) Inc. is the underwriter.
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