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HSBC to price buffered leveraged tracker notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 5 - HSBC USA Inc. plans to price 0% buffered leveraged tracker notes due March 2021 linked to the S&P 500 index, 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 at least 135% of the index return. The exact upside participation rate will be set at pricing. Investors will receive par if the index declines by 30% or less and will lose 1.4286% for every 1% that the index declines beyond 30%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in March.
The Cusip number is 40432XW56.
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