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HSBC USA plans lookback allocation notes linked to basket of indexes
By Marisa Wong
Milwaukee, March 2 - HSBC USA Inc. plans to price 0% lookback allocation notes due March 28, 2013 linked to a basket of indexes.
The basket includes the Russell 2000, S&P 500 and S&P MidCap 400 indexes.
The payout at maturity will be par plus the allocated return, which is 60% of the highest index return, plus 30% of the next highest index return, plus 10% of the lowest index return. Investors will be fully exposed to losses if the allocated return is negative.
The notes will price on March 26 and settle on March 31.
HSBC Securities (USA) Inc. is the agent.
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