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HSBC plans to price buffered uncapped notes linked to Russell 2000
By Marisa Wong
Morgantown, W.Va., Sept. 12 – HSBC USA Inc. plans to price 0% Buffered Uncapped Market Participation Securities due Sept. 30, 2021 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return. If the index return is less than or equal to zero but greater than or equal to negative 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 20%. The exact buffer will be at least 20% and will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Sept. 27.
The Cusip number is 40433UUK0.
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