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HSBC plans market-linked step-up notes linked to index basket
By Marisa Wong
Madison, Wis., April 27 – HSBC USA Inc. plans to price market-linked step-up notes due May 2017 linked to a basket comprised of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index and the Nikkei 225 index each with a 20% weight and the S&P/ASX 200 index and Swiss Market index each with a 7.5% weight and the Hang Seng index with a 5% weight, according to an FWP filing with the Securities and Exchange Commission.
If the basket finishes above the step-up value – 110% to 116% of the initial level – the payout at maturity will be par of $10.00 plus the basket gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 10% to 16%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in May and settle in June.
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