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HSBC plans to price Accelerated Return Notes on gold via Merrill
By Toni Weeks
San Diego, June 8 - HSBC USA Inc. plans to price 0% Accelerated Return Notes due September 2013 linked to the gold spot price, according to an FWP filing with the Securities and Exchange Commission.
Bank of America Merrill Lynch is the underwriter.
The payout at maturity will be par of $10.00 plus triple any gain in the index, capped at 17% to 21%. The exact cap will be set at pricing.
Investors will be fully exposed to losses.
The notes are expected to price in June and settle in July.
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