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HSBC plans three-year enhanced averaging buffered notes on basket
By Wendy Van Sickle
Columbus, Ohio, May 12 – HSBC USA Inc. plans to price 0% enhanced averaging buffered notes due May 28, 2019 linked to an index basket, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Topix index with a 20% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with a 10% weight.
If the final basket level is at least 80% of the initial level, the payout at maturity will be 1.3 to 1.4 times of the average reference return of the basket.
Otherwise, investors will lose 1.25% for each 1% decline beyond 20%, potentially offset by the average reference return times 1.44 times the upside participation rate of 130% to 140%.
The average reference return will be set using the average of the closing levels of the basket components on four quarterly observation dates beginning Aug. 22, 2018.
HSBC Securities (USA) Inc. is the agent.
The notes will trade on May 23, price on May 24 and settle on May 26.
The Cusip number is 40433UMV5.
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