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HSBC plans three-year market participation notes linked to Dow Jones Industrial Average
By Angela McDaniels
Tacoma, Wash., Oct. 2 - HSBC USA Inc. plans to price 0% uncapped market participation securities due Oct. 29, 2012 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 100% to 105% of any index gain, with the exact participation rate to be set at pricing. Investors will receive par if the index declines by 10% or less and will be exposed to any decline beyond 10%.
The notes will price Oct. 23 and settle Oct. 28.
HSBC Securities (USA) Inc. is the agent.
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