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HSBC to price PLUS linked to Energy Select Sector SPDR Fund
By Angela McDaniels
Tacoma, Wash., April 30 – HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due Sept. 6, 2016 linked to the Energy Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 300% of the fund return, subject to a maximum return of 16%. If the final share price is less than the initial share price, investors will have one-to-one exposure to the decline.
HSBC Securities (USA) Inc. is the underwriter. Distribution is through Morgan Stanley Wealth Management.
The notes are expected to price May 29.
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