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HSBC plans Leveraged Index Return Notes tied to silver spot price
By Marisa Wong
Madison, Wis., Sept. 19 - HSBC USA Inc. plans to price Leveraged Index Return Notes due October 2017 linked to the spot price of silver, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 110% to 120% of any gain in the price of silver. The exact participation rate will be set at pricing.
Investors will be exposed to any losses.
The notes are expected to price and settle in September.
Bank of America Merrill Lynch is the agent.
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