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HSBC plans HSBC Investable Climate Change index CDs
By Susanna Moon
Chicago, Oct. 7 - HSBC Bank USA, NA plans to price 0% HSBC Investable Climate Change index certificates of deposit due Oct. 31, 2014, according to a term sheet.
Payout at maturity will be par plus any index gain. Investors will receive at least par.
The CDs will be putable annually beginning Oct. 28, 2009. Investors will receive the then-current market value minus an early redemption charge.
The CDs will be callable on Oct. 31, 2011 at 124% to 130% of par.
The CDs are expected to price on Oct. 28 and to settle on Oct. 31.
HSBC Securities (USA) Inc. will be the agent.
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