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HSBC plans knock-out buffer notes linked to S&P 500 via JPMorgan
By Susanna Moon
Chicago, Oct. 5 - HSBC USA Inc. plans to price 0% knock-out buffer notes due April 15, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 39% during the life of the notes.
If a knock-out event occurs, the payout at maturity will be par plus the index return, with exposure to any losses.
Otherwise, the payout will be par plus any index gain, with a floor of par.
J.P. Morgan Securities LLC and HSBC Securities (USA) Inc. are the agents.
The notes will price on Oct. 7 and settle on Oct. 13.
The Cusip number is 4042K1QC0.
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