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HSBC plans to price optimization securities linked to Russell 2000
By Angela McDaniels
Tacoma, Wash., Oct. 14 - HSBC USA Inc. plans to price 0% optimization securities with contingent protection due April 30, 2012 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than 8%, the payout at maturity will be par of $10 plus the lesser of the index return and a maximum return of between 22% and 27%. The exact cap will be set at pricing.
If the index return is equal to or less than 8% and greater than or equal to negative 25%, the payout will be par plus 8%.
If the index return is less than negative 25%, the payout will be par plus the index return.
The notes (Cusip 40432R492) are expected to price Oct. 26 and settle Oct. 29.
UBS Financial Services Inc. is the agent.
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