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HSBC plans to price Market Index Target-Term notes tied to Dow Jones
By Tali Rackner
Norfolk, Va., Dec. 10 – HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due December 2022 linked 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 of $10 plus the index return, subject to a maximum of 35% to 45%. The exact cap will be set at pricing.
If the index is flat or negative, the payout will be par.
Merrill Lynch & Co. is the agent.
The notes will price and settle in December.
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