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HSBC plans to price 5% limited loss notes due 2020 on HSBC Vantage5
By Devika Patel
Knoxville, Tenn., Sept. 18 – HSBC USA Inc. plans to price zero-coupon 5% limited loss notes due Sept. 28, 2020 linked to the HSBC Vantage5 Index (USD) Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 121% of any index gain, with the exact participation rate to be set at pricing.
If the index falls, the payout will be par plus the index return, subject to a minimum payment of $950 per $1,000 of notes.
HSBC Securities (USA) Inc. is the underwriter.
The notes (Cusip: 40435F2S5) will price on Sept. 25 and settle on Sept. 28.
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