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HSBC to price knock-out buffer notes linked to S&P MidCap 400 index
By Angela McDaniels
Tacoma, Wash., Nov. 17 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Dec. 5, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the closing level of the index on Nov. 30, 2012 is less than 80% of the initial index level, investors will be fully exposed to the percentage decline of the index. Otherwise, the payout at maturity will be par plus the index return, subject to a minimum return of 7.5% and a maximum return of 20%.
The notes (Cusip: 4042K1SY0) will price Nov. 18 and settle Nov. 23.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer.
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