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HSBC to price 14-month capped gears on Energy Select Sector SPDR fund
By Marisa Wong
Morgantown, W.Va., Feb. 12 – HSBC USA Inc. plans to price 0% capped gears due April 20, 2020 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus 3 times the gain, up to a maximum return of 29% to 29.5%.
If the index return is negative, investors will lose 1% for each 1% decline.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Feb. 13.
The Cusip number is 40436A321.
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