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HSBC to price Accelerated Return Notes linked to oil and gas index
By Angela McDaniels
Tacoma, Wash., Nov. 5 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due November 2018 linked to the S&P Oil & Gas Exploration & Production Select Industry index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return that is expected to be 58% to 62% and will be set at pricing. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the agent.
The notes are expected to price and settle in November.
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