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HSBC plans leveraged buffered capped notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., May 3 – HSBC USA Inc. plans to price 0% leveraged buffered capped notes linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are expected to mature between 23 and 26 months after pricing.
The payout at maturity will be par plus 1.5 times any index gain, up to a maximum settlement amount of $1,225 to $1,264 per $1,000 principal amount.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
The exact deal terms will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on May 4.
The Cusip number is 40433UML7.
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