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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 31 - HSBC USA Inc. plans to price 0% enhanced market participation notes due June 30, 2009 linked to shares of 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 200% of any increase in the exchange-traded fund's share price, subject to a maximum return of 40%. Investors will be fully exposed to any share price decline.
The notes are expected to price on April 25 and settle on April 30.
HSBC Securities (USA) Inc. will be the agent.
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