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HSBC plans buffered uncapped market participation securities on S&P
By Devika Patel
Knoxville, Tenn., April 11 – 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 110% of any index gain. Investors will receive par if the index declines by 30% or less and will be exposed to any declines beyond 30%.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433ULM6) will price on April 26 and settle on April 29.
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