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HSBC USA to price enhanced market participation notes linked to Financial Select Sector SPDR fund
By Angela McDaniels
Tacoma, Wash., March 5 - HSBC USA Inc. plans to price 0% enhanced market participation notes due May 29, 2009 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any increase in the fund's share price, subject to a maximum return that is expected to be 40% and will be set at pricing. Investors will be fully exposed to any share price decline.
The notes are expected to price on March 24 and settle on March 27.
HSBC Securities (USA) Inc. will be the agent.
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