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HSBC plans capped gears due 2017 linked to basket of three ETFs
By Marisa Wong
Morgantown, W.Va., Sept. 13 – HSBC USA Inc. plans to price 0% capped gears due Nov. 21, 2017 linked to an equally weighted basket of the WisdomTree India Earnings fund, the iShares MSCI Brazil Capped exchange-traded fund and the iShares China Large-Cap ETF, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any basket gain, up to a maximum return of 20% to 22%. The exact cap will be set at pricing.
Investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Sept. 16 and settle on Sept. 21.
The Cusip number is 40435B825.
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