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HSBC plans buffered uncapped market participation notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Aug. 30 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Sept. 27, 2017 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return. Investors will receive par if the index falls by up to the buffer amount, which is expected to be 15% to 20% and will be set at pricing, and will lose 1% for every 1% that it declines beyond the buffer amount.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Sept. 24 and settle Sept. 27.
The Cusip number is 40432XKK6.
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