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HSBC plans buffered market participation securities linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., Dec. 4 - HSBC USA Inc. plans to price 0% buffered market participation securities due Jan. 3, 2017 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of at least 28.5% that will be set at pricing.
Investors will receive par if the index falls by up to the 15% buffer level and will lose 1% for every 1% decline beyond the buffer level.
The notes (Cusip: 40432XP39) are expected to price Dec. 26 and settle Dec. 31.
HSBC Securities (USA) Inc. is the agent.
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