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HSBC plans Accelerated Return Notes linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., Feb. 2 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due February 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 300% of any index gain, capped at 15% to 19%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes will price in February and settle in March.
BofA Merrill Lynch is the agent.
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