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HSBC to price knock-out buffer notes tied to six stocks via JPMorgan
By Angela McDaniels
Tacoma, Wash., Nov. 17 - HSBC USA Inc. plans to price 0% knock-out buffer notes due May 26, 2011 linked to a basket of common stocks, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
The basket includes United Technologies Corp. with a 50% weight, Johnson Controls, Inc. with a 25% weight, Rockwell Automation, Inc. with an 11% weight, Itron, Inc. with an 8% weight, Roper Industries, Inc. with a 5% weight and EnerNOC Inc. with a 1% weight.
If the basket return is less than negative 10%, the payout at maturity will be par plus the basket return. Otherwise, the payout will be par plus the greater of the basket return and 1%.
The notes will price Nov. 20 and settle Nov. 25.
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