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HSBC plans bearish accelerated market participation notes on S&P 500
By Jennifer Chiou
New York, Oct. 2 - HSBC USA Inc. plans to price 0% bearish accelerated market participation securities due Nov. 17, 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 triple the absolute value of any index decline, subject to a maximum return that is expected to be 18% to 20% and will be set at pricing. Investors will share in any losses determined according to index gains.
The notes will price on Oct. 15 and settle Oct. 20.
HSBC Securities (USA) Inc. is the agent.
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