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HSBC intends to price capped buffer gears tied to Russell 2000 index
By Devika Patel
Knoxville, Tenn., June 1 – HSBC USA Inc. plans to price 0% capped buffer gears due Dec. 31, 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus double the index return, subject to a maximum payout of between 13.1% and 15.1%. Investors will receive par if the index declines by 10% or less and will receive will lose 1% for every 1% decline beyond the buffer if the index falls by more than 10%. The exact cap will be set at pricing
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes (Cusip: 40435X207) will price on June 26 and settle on June 29.
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