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HSBC plans to price three-year buffered PLUS linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, Feb. 12 – HSBC USA Inc. plans to price 0% buffered Performance Leveraged Upside Securities due March 5, 2019 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 par of $10 plus twice the index return, subject to a maximum payment of at least $13.40 per PLUS. The exact cap will be set at pricing.
Investors will receive par if the index declines by up to 10% and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.
The notes are expected to price on Feb. 29 and settle on March 3.
The Cusip number is 40434N796.
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