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HSBC offers buffered market participation notes tied to NYSE FANG+
By Devika Patel
Knoxville, Tenn., Dec. 24 – HSBC USA Inc. plans to price 0% buffered market participation securities due April 23, 2020 linked to the NYSE FANG+ index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a cap that is expected to be at least 22% and will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435UEB6) will price on Jan. 17 and settle on Jan. 23.
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