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HSBC plans to price Leveraged Index Return Notes linked to the Dow
By Toni Weeks
San Luis Obispo, Calif., July 31 – HSBC USA Inc. plans to price 0% Leveraged Index Return Notes due August 2020 tied to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 101% to 121% of the index return, with the exact participation rate to be determined at pricing. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline in the index beyond 20%.
The final index level will be the average of the closing index levels on five trading days shortly before maturity.
BofA Merrill Lynch is the underwriter.
The notes will price in August and settle in September.
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