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HSBC plans buffered return optimization notes on gold with 23%-28% cap
By Susanna Moon
Chicago, Jan. 10 - HSBC USA Inc. plans to price 0% buffered return optimization notes due Jan. 23, 2014 linked to the price of gold, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the price of gold, up to a maximum return of 23% to 28%.
Investors will receive par if the price of gold falls by up to 10% and will be exposed to any losses beyond 10%.
HSBC Securities (USA) Inc. will be the underwriter, and UBS Financial Services Inc. is the agent.
The notes will price on Jan. 18 and settle on Jan. 23.
The Cusip is 40433K629.
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