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HSBC to price knock-out buffer notes linked to Euro Stoxx 50
By Jennifer Chiou
New York, March 6 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Sept. 10, 2014 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.
A knock-out event occurs if the index's final level is less than the initial index level by more than 20%.
If a knock-out event does not occur, the payout at maturity will be par plus the greater of the index return and 7.4%. If a knock-out event occurs, the payout will be par plus the index return, which could be positive or negative.
The notes (Cusip: 40432XCR0) are expected to price on March 8 and settle on March 13.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as placement agent.
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