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HSBC plans two-year buffered AMPS with 32% cap linked to Apple
By Susanna Moon
Chicago, April 4 – HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due April 2, 2018 linked to Apple Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any gain in the price of Apple shares, up to a maximum return of at least 32%. The exact cap will be set at pricing.
Investors will receive par if the stock falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 26 and settle on April 29.
The Cusip number is 40433ULB0.
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