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HSBC plans contingent return optimization securities linked to S&P 500
By Toni Weeks
San Diego, Nov. 6 - HSBC USA Inc. plans to price 0% contingent return optimization securities due Nov. 28, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least 80% of the initial index level, the payout at maturity will be par of $10 plus the index return, subject to a minimum return of 6% and a maximum return of 17% to 22%. The exact maximum return will be set at pricing.
If the final index level is less than 80% of the initial level, investors will be fully exposed to the index's decline from the initial level.
The notes are expected to price Nov. 27 and settle Nov. 30.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
The Cusip number is 40433T638.
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