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HSBC to price return optimization notes tied to Asian indexes via UBS
By Angela McDaniels
Tacoma, Wash., Feb. 2 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due Feb. 28, 2013 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the Hang Seng China Enterprises index with a 33.34% weight, the Hang Seng index with a 33.33% weight and the MSCI Singapore index with a 33.33% weight.
If the basket return is positive, the payout at maturity will be par of $10 plus 1.5 times the basket return, subject to a maximum return of 45% to 51% that will be set at pricing.
If the basket return is between zero and negative 40%, the payout will be par.
If the basket return is less than negative 40%, the payout will be par plus the basket return.
The notes are expected to price Feb. 23 and settle Feb. 26.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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