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HSBC announces plans to price buffered AMPS tied to NYSE FANG+ index
By Devika Patel
Knoxville, Tenn., Dec. 24 – HSBC USA Inc. intends to price 0% buffered Accelerated Market Participation Securities due Aug. 2, 2021 linked to the NYSE FANG+ index, according to an FWP filed with the Securities and Exchange Commission.
If the index increases, the payout at maturity will be par plus double the return, up to a cap that is expected to be at least 33.75% 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: 40435UDU5) will price on Jan. 28.
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