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HSBC plans to price buffered uncapped notes linked to S&P 500
By Marisa Wong
Madison, Wis., Jan. 2 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due July 31, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return. Investors will receive par if the index falls by an amount no greater than the buffer and will lose 1% for every 1% that it declines beyond the buffer, which is expected to be at least 15% and will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will to price Jan. 24 and settle Jan. 29.
The Cusip number is 40432XRM5.
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