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HSBC plans five-year buffered uncapped market notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., April 7 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due April 29, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 100% of any index gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline beyond 25%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 22.
The Cusip number is 40433UKC9.
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