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HSBC plans one-year knock-out buffer notes linked to Brazilian real
By Susanna Moon
Chicago, Oct. 3 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Oct. 22, 2013 linked to the Brazilian real relative to the dollar, according to an FWP with the Securities and Exchange Commission.
If the currency falls by more than 15%, the payout at maturity will be par plus the return, with exposure to any losses.
Otherwise, the payout will be par plus any gain, with a contingent minimum return of at least 5.7%. The exact floor will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.
The notes will price on Oct. 5 and settle on Oct. 15.
The Cusip number is 4042K16F5.
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