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HSBC Bank USA plans CD linked to global index basket
By Jennifer Chiou
New York, Nov. 3 - HSBC Bank USA NA plans to issue a Far East opportunity point-to-point CDs due April 26, 2011 linked to equal weights of the Nikkei 225, Hong Kong Hang Seng China Enterprises, Morgan Stanley Capital International Taiwan and Morgan Stanley Capital International Singapore Free indexes, according to a term sheet.
At maturity, the CDs will pay the greater of par and the basket return.
Holders will have the right to put back the CDs in whole on any annual early redemption date.
The CDs will price on Nov. 20 and are expected to settle on Nov. 24.
LaSalle ABN Amro will be the agent.
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