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HSBC plans callable notes with contingent return tied to S&P, Russell
By Susanna Moon
Chicago, Dec. 13 – HSBC USA Inc. plans to price callable notes with contingent return due Dec. 28, 2026 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of at least 8.15% if each index closes at or above its 70% coupon barrier level on the observation date for that quarter.
The notes are callable at par on any quarterly review date beginning Dec. 28, 2017.
The payout at maturity will be par the final coupon unless either index closes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worse performing index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 22 and settle on Dec. 28.
The Cusip number is 40433UE77.
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