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HSBC plans three-year SelectInvest notes linked to Russell 2000
By Marisa Wong
Madison, Wis., Jan. 7 - HSBC USA Inc. plans to price 0% Selections due Jan. 30, 2017 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Selections are securities offered under HSBC's SelectInvest Program for January 2014.
If the index return is positive, the payout at maturity will be par plus the index gain, subject to a maximum return of at least 25%. The exact cap will be set at pricing.
If the index falls by up to 15%, the payout will be par.
If the index falls by more than 15%, investors will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Jan. 27 and settle on Jan. 30.
The Cusip number is 40432XPY1.
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