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HSBC plans 14-month Accelerated Return Notes with 12%-16% cap on gold
By Susanna Moon
Chicago, April 27 - HSBC USA Inc. plans to price 0% Accelerated Return Notes due August 2013 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of $11.20 to $11.60 per note. The exact cap will be set at pricing.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes are expected to price in May and settle in June.
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