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HSBC plans capped knock-out buffer notes on Dow Chemical via JPMorgan
By Marisa Wong
Madison, Wis., June 7 - HSBC USA Inc. plans to price 0% capped knock-out buffer notes due June 27, 2012 linked to Dow Chemical Co. shares, according to an FWP filing with the Securities and Exchange Commission.
If Dow Chemical stock falls by more than 30% during the life of the notes, the payout at maturity will be par plus the stock return, with exposure to any losses.
Otherwise, the payout will be par plus the greater of the stock return and a contingent minimum return of 11%.
In either case, the payout is subject to a maximum return of 20%.
The notes (Cusip: 4042K1JW4) are expected to price June 10 and settle June 15.
J.P. Morgan Securities LLC is the agent.
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