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HSBC to price buffered securities linked to iShares U.S. Real Estate
By Angela McDaniels
Tacoma, Wash., May 1 – HSBC USA Inc. plans to price 0% Buffered Market Participation Securities due Aug. 27, 2018 linked to the iShares U.S. Real Estate exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the ETF return, subject to a maximum return that is expected to be at least 9% and will be set at pricing. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price May 23.
The Cusip number is 40433U4X1.
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