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HSBC to price one-year SelectInvest notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., March 4 - HSBC USA Inc. plans to price 0% SelectInvest debt securities due March 30, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus the ETF return, subject to a maximum return of at least 11%. If the ETF declines by 10% or less, the payout will be par. If the ETF declines by more than 10%, investors will lose 1% for every 1% that the ETF declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price March 24 and settle March 27.
The Cusip number is 40432XVC2.
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