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HSBC plans market plus notes due 2024 linked to S&P 500, Russell 2000
By Sarah Lizee
Olympia, Wash., April 2 – HSBC USA Inc. plans to price 0% market plus notes due April 4, 2024 linked to the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the final level of the lesser performing index is greater than or equal to the knock-out level, 50% of the initial index level, the payout at maturity will be par plus 140.5% of the return of the lesser performing index, subject to a minimum payout of par. Otherwise, investors will lose 1% for every 1% that the final level of the lessesr performing index is less than its initial index level.
HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are acting as placement agents.
The notes will price April 3.
The Cusip number is 40435ULM4.
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