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HSBC to price five-year market-linked notes tied to S&P 500 index
Chicago, Jan. 29 – HSBC USA Inc. plans to price 0% notes due February 2024 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 of $10 plus 1.25 any index gain, capped at par plus 51% to 57%.
Investors will receive a positive return of par plus the absolute value of any decline in the index.
Beyond a 20% decline, investors will have 1-to-1 downside exposure to the losses of the index.
BofA Merrill Lynch is the agent.
The notes will price and settle in February.
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