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HSBC plans buffered notes on PowerShares S&P 500 High Dividend
New York, Jan. 30 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Feb. 6, 2020 linked to the PowerShares S&P 500 High Dividend Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 120% of any fund gain.
Investors will receive par if the fund falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price on Feb. 3 and settle on Feb. 6.
The Cusip number is 40433BA24.
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