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HSBC plans 2.5-year market-linked step-up notes on Euro Stoxx indexes
By Susanna Moon
Chicago, Feb. 18 – HSBC USA Inc. plans to price market-linked step-up notes due August 2017 linked to a basket of two indexes, according to an FWP with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 70% weight and the Euro Stoxx Midcap index with a 30% weight.
If the basket finishes at or above the step-up value – 122% to 128% of the initial level – the payout at maturity will be par of $10.00 plus the index gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 22% to 28%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in February and settle in March.
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