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HSBC USA to price return optimization securities linked to S&P 500
By Jennifer Chiou
New York, Feb. 5 - HSBC USA Inc. plans to price 0% return optimization securities due March 3, 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 of $10 plus 5% for each 1% gain in the index, subject to a maximum return that is expected to be 24% to 28% and will be set at pricing. Investors will share in any losses.
The securities are expected to price on Feb. 24 and settle on Feb. 27.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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