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HSBC plans buffered accelerated return notes tied to S&P 500
By Marisa Wong
Madison, Wis., Oct. 6 – HSBC USA Inc. plans to price 0% buffered accelerated return notes due Oct. 29, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 1.35 times any index gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the index falls by up to 30% and will lose 1.4286% for each 1% decline beyond 30%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price on Oct. 24 and settle on Oct. 29.
The Cusip number is 40433BRB6.
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