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HSBC plans to price 0% CDs with minimum return tied to Dow Industrials
By Marisa Wong
Madison, Wis., Aug. 4 - HSBC Bank USA, NA plans to price 0% certificates of deposit due Feb. 28, 2018 linked to the Dow Jones Industrial Average, according to a term sheet.
The payout maturity will be par plus the index return, subject to a minimum return of 1% to 3% that will be set at pricing. The index return will be calculated using the average of the closing levels of the index on 25 quarterly observation dates.
The CDs (Cusip: 40431GWS4) are expected to price Aug. 23 and settle Aug. 26.
HSBC Securities (USA) Inc. is the agent.
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