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HSBC plans PLUS linked to SPDR S&P Oil & Gas Exploration & Production
By Angela McDaniels
Tacoma, Wash., Jan. 13 – HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due May 3, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than the initial share price, the payout at maturity will be par of $10 plus 300% of the ETF return, subject to a maximum return that is expected to be at least 31% and will be set at pricing.
If the final share price is less than the initial share price, investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
The notes will price Jan. 31.
The Cusip number is 40435C633.
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