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HSBC plans buffered performance plus notes due 2015 tied to S&P 500
By Toni Weeks
San Diego, Jan. 31 - HSBC USA Inc. plans to price 0% buffered performance plus securities due Feb. 26, 2015 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the greater of the index return and the minimum upside return, which is expected to be 26% to 30% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
The notes (Cusip: 4042K1WL3) are expected to price Feb. 22 and settle Feb. 27.
HSBC Securities (USA) Inc. is the agent.
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