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HSBC to price market-linked step-up notes linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., March 1 - HSBC USA Inc. plans to price 0% market-linked step-up notes due March 2015 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the underwriter.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the step-up value and the index return. The step-up value is expected to be 14% to 20% and will be set at pricing.
Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.
The notes are expected to price and settle in March.
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