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HSBC plans buffered uncapped market participation securities on S&P
By Sarah Lizee
Olympia, Wash., June 1 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due June 29, 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 any index gain.
Investors will receive par if the index falls by up to a least 23% and will lose 1% for every 1% decline beyond the buffer. The exact buffer will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435FC88) will price June 26 and settle June 29.
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