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HSBC to sell buffered return enhanced market participation notes on Russell 2000
By Susanna Moon
Chicago, Aug. 25 - HSBC USA Inc. plans to price 0% buffered return enhanced market participation notes due Aug. 31, 2011 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of about 43%, with the exact rate to be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond 10%.
The notes are expected to price Aug. 26 and settle Aug. 31.
HSBC Securities (USA) Inc. is the agent.
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