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HSBC plans to price return optimization securities linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 16 – HSBC USA Inc. plans to price 0% return optimization securities due March 29, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus triple the gain, up to a maximum return of 15.4% to 17.4%%. The exact cap will be set at pricing.
Investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 40434N754.
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