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HSBC to price knock-out buffer notes linked to S&P 500 via JPMorgan
By E. Janene Geiss
Philadelphia, July 28 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Feb. 3, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
J.P. Morgan Securities Inc. is the agent.
If the index falls below the knock-out buffer - 70% of the initial index level - during the life of the notes, the payout at maturity will be par plus the index return. Otherwise, the payout will be par plus the greater of the index return and 2.5%.
The notes will price July 31 and settle Aug. 5.
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