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HSBC plans to price PLUS due 2015 linked to S&P MidCap 400 index
By Jennifer Chiou
New York, March 5 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due May 4, 2015 linked to the S&P MidCap 400 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payment of at least $11.15 per note.
Investors will be fully exposed to losses if the index declines.
The notes (Cusip: 40434B115) are expected to price on March 31 and settle on April 3.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC as distributor.
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