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HSBC plans leveraged buffered notes on iShares MSCI Emerging Markets
By Angela McDaniels
Tacoma, Wash., July 12 – HSBC USA Inc. plans to price 23- to 26-month 0% leveraged buffered capped notes linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 170% of the ETF return, subject to a maximum settlement amount that is expected to be $1,248.20 to $1,290.70 per $1,000 principal amount of notes. Investors will receive par if the ETF declines by 20% or less and will lose 1.25% for every 1% that the ETF may decline beyond 20%.
The exact maturity date and maximum settlement amount will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter.
The notes are expected to price on July 15.
The Cusip number is 40433URN8.
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