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HSBC to sell callable buffered return enhanced notes on iShares Emerging Markets
By Susanna Moon
Chicago, July 2 - HSBC USA Inc. plans to price 0% callable buffered return enhanced notes due July 27, 2011 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain.
Investors will receive par if the fund falls by up to 10% and will be exposed to declines beyond 10%.
The notes may be called at between 115% and 118% of par by July 23, 2010, with the exact call amount to be set at pricing.
The notes will price on July 22 and settle on July 27.
HSBC Securities (USA) Inc. is the agent.
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