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HSBC to price autocallable return enhanced notes linked to Topix index
By Angela McDaniels
Tacoma, Wash., April 3 - HSBC USA Inc. plans to price 0% autocallable return enhanced notes due April 23, 2014 linked to the Topix index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be automatically called if the index's closing level is greater than or equal to 103.6% of the initial index level on July 18, 2013, Oct. 17, 2013 or Jan. 16, 2014. The redemption price is 107.2% of par.
If the notes are not called, the payout at maturity will be par plus 200% of any index gain, subject to a maximum return of 7.2%. If the index return is negative, investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
The notes will price April 5 and settle April 10.
The Cusip number is 40432XE23.
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