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HSBC plans protected seven-year Mitts linked to the Dow via Merrill
By Susanna Moon
Chicago, Oct. 29 - HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due November 2020 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
BofA Merrill Lynch is the underwriter.
The payout at maturity will be par of $10 plus the index return, up to a maximum return of 55% to 65%. The exact cap will be set at pricing.
If the index falls, the payout will be par.
The notes will price in November and settle in December.
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