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HSBC USA to price equity buffer notes linked to Berkshire Hathaway
By Angela McDaniels
Tacoma, Wash., Dec. 2 - HSBC USA Inc. plans to price 0% equity buffer notes due Dec. 29, 2011 linked to the class B common stock of Berkshire Hathaway Inc., according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any increase in Berkshire Hathaway's share price, subject to a maximum return that is expected to be 30% to 38% and will be set at pricing. Investors will receive par if the share price declines by 20% or less and will lose 1% for every 1% that the share price declines beyond 20%.
The notes are expected to price on Dec. 23 and settle on Dec. 29.
HSBC Securities (USA) Inc. is the agent.
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