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HSBC plans 15-month buffered AMPS on iShares MSCI Emerging Markets
By Susanna Moon
Chicago, May 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Aug. 26, 2011 based on the performance of the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 17.5% to 22.5%. The exact cap will be set at pricing.
Investors will receive par if the shares fall by up to 10% and will be exposed to any decline beyond the buffer.
The notes will price on May 21 and settle on May 26.
HSBC Securities (USA) Inc. is the agent.
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