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HSBC plans 0% notes with contingent protection linked to MSCI Emerging Markets
By Laura Lutz
Des Moines, Jan. 15 - HSBC USA Inc. plans to price 0% notes with contingent protection due Jan. 31, 2011 linked to the MSCI Emerging Markets index, according to an FWP filing with the Securities and Exchange Commission.
If the index stays at or above the trigger level - 55% of the initial level - or finishes above its initial level, the payout at maturity will be par plus any gain on the index.
Otherwise, the payout will be par times the index performance.
The notes are expected to price on the five trading days beginning Jan. 16 and to settle on Jan. 30.
HSBC Securities (USA) is the underwriter.
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