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HSBC to price coupon-bearing notes linked to Wells Fargo via Merrill
By Toni Weeks
San Diego, May 25 - HSBC USA Inc. plans to price coupon-bearing notes due April 2013 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable quarterly at the rate of 7.5% per year.
If the ending price of Wells Fargo stock finishes at or above the threshold value of 90% to 94% of the initial value, the payout at maturity will be par of $10. The exact threshold value will be set at pricing.
Investors will share in losses beyond the threshold value.
The notes are expected to price and settle in June.
Bank of America Merrill Lynch is the underwriter.
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