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HSBC plans six-year Stars tied to Stoxx with 12%-13% call premium
By Susanna Moon
Chicago, May 18 – HSBC USA Inc. plans to price Strategic Accelerated Redemption Securities due May 2024 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 12% to 13% if the index closes at or above its initial level on any annual review date. The exact call premium will be set at pricing.
The payout at maturity will be par unless the index falls, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in May.
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