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HSBC plans return optimization securities tied to S&P 500 index
By Jennifer Chiou
New York, Sept. 13 - HSBC USA Inc. plans to price 0% return optimization securities due Oct. 31, 2012 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus two times any increase in the index, subject to a maximum return of 18.5% to 22.5% that will be set at pricing. Investors will share in losses.
The notes (Cusip: 40433C452) are expected to price on Sept. 27 and settle on Sept. 30.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
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