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HSBC plans three-year SelectInvest notes with cap tied to iShares EM
By Marisa Wong
Madison, Wis., Dec. 8 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due Dec. 26, 2017 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain, up to a maximum return of at least 22.5%. The exact cap will be set at pricing.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 19 and settle on Dec. 24.
The Cusip number is 40433BUL0.
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