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HSBC plans autocallable notes on S&P 500, iShares MSCI EM fund
By Jennifer Chiou
New York, Sept. 17 – HSBC USA Inc. plans to price 0% autocallable notes due Sept. 28, 2017 linked to equal weights of the S&P 500 index and the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The notes will be called at par plus the 7% annualized call premium if the basket closes at or above its initial level on any annual call observation date beginning on Sept. 25, 2015.
If the notes are not called and the basket finishes at or above its 90% buffer level, the payout at maturity will be par.
Investors will be exposed to any losses beyond the buffer.
The notes (Cusip: 40433BNS3) are expected to price on Sept. 25 and settle on Sept. 30.
HSBC Securities (USA) Inc. will be the agent.
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