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HSBC plans dual directional contingent buffered notes linked to Pfizer
By Susanna Moon
Chicago, Aug. 6 – HSBC USA Inc. plans to price 0% dual directional contingent buffered enhanced notes due Aug. 27, 2015 linked to Pfizer Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
If the stock finishes above the initial level, the payout at maturity will be par plus the return up to a maximum return of 13.5%.
If the index falls by between 5% and 10%, the payout will be par plus the absolute value of the index return.
If the index falls by up to 5%, the payout will be par plus the contingent minimum return of 5%.
If the index falls by more than the 10% knock-out buffer, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. J.P. Morgan Securities LLC is the agent.
The notes will price on Aug. 8 and settle on Aug. 13.
The Cusip number is 40433BLA4.
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