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HSBC plans buffered uncapped market participation notes on S&P 500
By Sarah Lizee
Olympia, Wash., Aug. 31 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Sept. 28, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by 22% or less and will lose 1% for every 1% decline beyond 22%.
HSBC Securities (USA) Inc. is the underwriter.
The notes (Cusip: 40435FZ91) will price on Sept. 25 and settle on Sept. 28.
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