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HSBC plans to price 0% barrier notes due 2018 linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – HSBC USA Inc. plans to price 0% barrier market participation securities due Nov. 30, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be at least 100% of the gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the index declines by 25% or less and will be fully exposed to losses if the index declines beyond 25%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Nov. 24 and settle on Nov. 30.
The Cusip number is 40433UCR5.
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