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HSBC to price buffered PLUS notes tied to S&P due 2019
By Lisa Mayntz
Chicago, Feb. 15 – HSBC USA Inc. plans to price buffered Performance Leveraged Upside Securitie due Sept. 5, 2019 linked to the S&P 500 index, according to a FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of at least 121.5% of par.
If the index finishes flat or falls by no more than 10%, the payout will be par.
If the index falls by more than 10%, investors will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Feb. 28 and settle on March 3.
The Cusip number is 40435C153.
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