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HSBC aims to sell Accelerated Return Notes on S&P 500 index
By Devika Patel
Knoxville, Tenn., Nov. 29 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due February 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return that is expected to be 10% to 14% and will be set at pricing. If the index return is negative, investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the agent.
The notes will price and settle in December.
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