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HSBC plans 18-month buffered AMPS on iShares MSCI EAFE index fund
By Jennifer Chiou
New York, March 31 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Oct. 28, 2011 linked to the iShares MSCI EAFE index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, subject to a maximum return that is expected to be 14% to 19% and will be set at pricing. Investors will receive par if the fund declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes are expected to price on April 23 and settle on April 28.
HSBC Securities (USA) Inc. is the agent.
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