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HSBC plans two-year market-linked step-up notes on DAX Price Return
By Susanna Moon
Chicago, April 25 - HSBC USA Inc. plans to price market-linked step-up notes due May 2015 linked to the DAX Price Return index, according to an FWP with the Securities and Exchange Commission.
If the index finishes at or above the step-up value - 112% to 118% of the initial level - the payout at maturity will be par of $10.00 plus any index gain.
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 payment of $1.20 to $1.80 per note.
Investors will be fully exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes will price in May and settle in June.
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