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HSBC to price five-year buffered fixed-rate notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 25 – HSBC USA Inc. plans to price buffered fixed-rate notes due Sept. 29, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will carry a coupon of at least 3.55%. Interest will be payable quarterly. The exact rate will be set at pricing.
The payout at maturity will be par unless the index falls by more than 15%, in which case investors will be exposed to declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price Sept. 26.
The Cusip number is 40435FFZ5.
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