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HSBC intends to price buffered uncapped notes linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., May 25 – HSBC USA Inc. plans to sell 0% buffered uncapped market participation securities due June 6, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 100% to 105% of any index gain. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435FZA8) will price May 31 and settle June 5.
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