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HSBC plans coupon-bearing notes tied to Starbucks via Bank of America
By Toni Weeks
San Diego, July 31 - HSBC USA Inc. plans to price coupon-bearing notes due August 2013 linked to the common stock of Starbucks Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly at the rate of 7% per year.
If the ending price of Starbucks stock finishes at or above the threshold value of 91% to 95% of the initial value, the payout at maturity will be par of $10. The exact threshold value will be set at pricing.
Investors will share in losses beyond the threshold value.
The notes are expected to price and settle in August.
Bank of America Merrill Lynch is the underwriter.
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