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HSBC plans two-year market-linked step-up notes on Euro Stoxx 50
By Susanna Moon
Chicago, Dec. 30 - HSBC USA Inc. plans to price market-linked step-up notes due January 2016 tied to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes at or above the step-up value - 115% to 121% of the initial level - the payout at maturity will be par plus the basket return.
If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 15% to 21%.
Investors will be fully exposed to losses.
The exact deal terms will be set at pricing.
BofA Merrill Lynch is the agent.
The notes will price in January and settle in February.
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