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HSBC plans five-year SelectInvest securities tied to Russell 2000
By Toni Weeks
San Luis Obispo, Calif., May 1 - HSBC USA Inc. plans to price 0% Selections due May 30, 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
Selections are debt securities offered under HSBC's SelectInvest Program for May 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 43%. The exact cap will be set at pricing.
If the index falls by up to 25%, the payout will be par.
If the index falls by more than 25%, investors will lose 1% for every 1% decline beyond 25%.
The notes (Cusip: 40432XZL8) are expected to price May 27 and settle May 30.
HSBC Securities (USA) Inc. is the agent.
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