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HSBC to price buffered market participation securities on S&P 500
By Marisa Wong
Morgantown, W.Va., July 18 – HSBC USA Inc. plans to price 0% buffered market participation securities due July 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a cap of at least 12% that will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% decline beyond the 20% buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price and settle in July.
The Cusip number is 40433URK4.
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