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HSBC plans to sell 15-month buffered AMPS on iShares FTSE/Xinhua China
By Susanna Moon
Chicago, June 29 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Oct. 28, 2011 based on the performance of the iShares FTSE/Xinhua China 25 index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 21% to 26%. The exact cap will be set at pricing.
Investors will receive par if the shares fall by up to 10% and will be exposed to any decline beyond 10%.
The notes will price on July 23 and settle on July 28.
HSBC Securities (USA) Inc. is the agent.
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