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HSBC USA plans 0% securities linked to MSCI EAFE via UBS
By Jennifer Chiou
New York, April 30 - HSBC USA Inc. plans to price 0% return optimization securities with partial protection due Nov. 30, 2009 linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
If the final index level is at least the initial level, the payout at maturity will be par plus 200% of any gain on the index, capped at a maximum payout that will be between 117.7% and 120.7% of par. The exact cap will be set at pricing.
If the index declines by up to 10%, the payout will be par. Investors will lose 1% for each 1% that the index declines beyond 10%.
The notes are expected to price on May 27 and settle on May 30.
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