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HSBC plans 14-month Accelerated Return Notes on S&P 500 Regional Banks
By Toni Weeks
San Luis Obispo, Calif., Aug. 3 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due October 2016 linked to the S&P Regional Banks Select Industry index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus three times any index gain, capped at 14% to 18%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in August and settle in September.
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