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HSBC plans buffered uncapped market participation notes on S&P 500
By Susanna Moon
Chicago, Aug. 2 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due March 2, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to the 15% to 20% buffer, with the exact level to be set at pricing, and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 26 and settle on Aug. 29.
The Cusip number is 40432XJK8.
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