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HSBC plans Capped Leveraged Index Return Notes tied to two indexes
By Marisa Wong
Madison, Wis., Sept. 23 – HSBC USA Inc. plans to price 0% Capped Leveraged Index Return Notes due September 2017 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The equally weighted basket includes the S&P 500 index and the Russell 2000 index.
The payout at maturity will be par of $10.00 plus 200% of any basket gain, subject to a maximum return of 22% to 26%. The exact maximum return will be set at pricing.
Investors will receive par if the basket falls by up to 10% and will be exposed to any losses beyond 10%.
The notes are expected to price in September and settle in October.
BofA Merrill Lynch is the agent.
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