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HSBC plans to price contingent income PLUS linked to Alerian MLP ETF
By Tali Rackner
Norfolk, Va., Nov. 19 – HSBC USA Inc. plans to price 0% contingent income Performance Leveraged Upside Securities due Nov. 25, 2019, linked to the Alerian MLP exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If Alerian shares close at or above the initial share price on a quarterly determination date, the notes will pay a contingent payment that quarter at an annualized rate of 9%. The exact rate will be set at pricing.
If the final share price is greater than or equal to the downside threshold level, the payout at maturity will be par of $10 plus two times the fund gain. Otherwise, investors will lose 1% for every 1% that the final share price is less than the initial share price.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
The notes will price on Nov. 20 and settle on Nov. 25.
The Cusip number is 40434E333.
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