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HSBC plans to price 13-month capped gears linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., March 23 – HSBC USA Inc. plans to price 0% capped gears due April 30, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 3 times the gain, up to a maximum return of 11.25%.
If the index return is negative, investors will lose 1% for each 1% decline.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on March 24.
The Cusip number is 40435D805.
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