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HSBC plans to price buffered performance plus notes tied to S&P 500
By Toni Weeks
San Diego, July 31 - HSBC USA Inc. plans to price 0% buffered performance plus securities due Aug. 29, 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the index return and a minimum upside return of 21% to 26%. The exact percentage will be set at pricing.
Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.
The notes will price Aug. 24 and settle Aug. 29.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 4042K12M4.
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