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HSBC plans 5% buffered fixed-rate notes on Russell 2000, S&P 500
By Wendy Van Sickle
Columbus, Ohio, Nov. 2 – HSBC USA Inc. plans to price 3% to 3.25% buffered fixed-rate notes due Nov. 29, 2019 linked to the Russell 2000 index and the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
Interest is payable quarterly.
If the least-performing asset finishes at or above 75% of the initial level, the payout at maturity will be par.
Otherwise, investors will lose 1% per 1% drop beyond the 25% buffer.
The notes (Cusip: 40433UYD2) will price on Nov. 21 and settle on Nov. 25.
HSBC Securities (USA) Inc. is the agent.
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