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HSBC to sell return optimization securities linked to S&P 500 via UBS
By Susanna Moon
Chicago, March 3 - HSBC USA Inc. plans to price 0% return optimization securities due April 1, 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 five times any gain in the index, up to a maximum return of 26% to 30%. The exact cap will be set at pricing.
Investors will share in any losses.
The notes are expected to price on March 26 and settle on March 31.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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