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HSBC to sell buffered market participation securities on Russell 2000
By Susanna Moon
Chicago, Jan. 8 - HSBC USA Inc. plans to price 0% buffered market participation securities due July 27, 2011 linked to the performance of the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 10% to 12%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 25% and will lose 1% for each 1% drop beyond 25%.
The notes will price on Jan. 22 and settle on Jan. 27.
HSBC Securities (USA) Inc. is the agent.
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