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HSBC to price buffered digital notes tied to NYSE FANG+ index
By Emma Trincal
New York, July 14 – HSBC USA Inc. plans 0% buffered digital notes due Aug. 10, 2023 linked to the NYSE FANG+ index, according to an FWP filing with the Securities and Exchange Commission.
If the final level of the index is greater than or equal to 90% of the initial level, the payout at maturity will be par plus 18.4%. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Aug. 5 and settle on Aug. 10.
The Cusip number is 40438CQJ3.
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