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HSBC plans to price Leveraged Index Return Notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 10 – HSBC USA Inc. plans to price 0% Leveraged Index Return Notes due August 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 105% to 125% of the index return. The exact upside participation rate will be set at pricing. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it may decline beyond 20%.
BofA Merrill Lynch is the underwriter.
The notes will price in August and settle in September.
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