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HSBC to price 15-month accelerated market participation securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 2 - HSBC USA Inc. plans to price 0% accelerated market participation securities due Feb. 25, 2011 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 any index gain, subject to a maximum return that is expected to be 19% to 23% and will be set at pricing. Investors will be fully exposed to any index decline.
The notes will price Nov. 20 and settle Nov. 25.
HSBC Securities (USA) Inc. is the agent.
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