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HSBC to price one-year SelectInvest notes linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., April 3 - HSBC USA Inc. plans to price 0% SelectInvest debt securities due April 30, 2015 linked to the S&P 500 index, according to a 424B2 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, subject to a maximum return of at least 3.5%. If the index declines by 10% or less, the payout will be par. If the index declines by more than 10%, investors will lose 1% for every 1% that the index return is below negative 10%.
The exact maximum return will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will price April 24 and settle April 29.
The Cusip number is 40432XWS6.
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