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HSBC plans buffered accelerated market securities on Russell 2000
By Susanna Moon
Chicago, Feb. 2 - HSBC USA Inc. plans to price 0% buffered accelerated market participation securities due May 24, 2011 based on the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 15% to 20%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any drop beyond 10%.
The notes will price on Feb. 19 and settle on Feb. 24.
HSBC Securities (USA) Inc. is the agent.
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