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HSBC plans 5.5-year averaging notes linked to S&P 500 Low Volatility
By Toni Weeks
San Diego, July 19 - HSBC USA Inc. plans to price 0% averaging notes due Jan. 31, 2018 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the average closing level of the index measured quarterly.
Investors will receive par if the average return is negative or flat.
The notes (Cusip: 4042K1Z48) are expected to price July 26 and settle July 31.
HSBC Securities (USA) Inc. is the agent.
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