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HSBC to price buffered AMPs due 2017 linked to real estate fund
By Jennifer Chiou
New York, May 5 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due May 30, 2017 linked to the iShares U.S. Real Estate exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, subject to a maximum return of at least 30% that will be set at pricing. Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 40433BBB3) are expected to price on May 22 and settle on May 28.
HSBC Securities (USA) Inc. is the agent.
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