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HSBC plans capped return enhanced notes tied to SPDR S&P Bank ETF
By Marisa Wong
Morgantown, W.Va., Aug. 22 – HSBC USA Inc. plans to price 0% return enhanced notes due Sept. 12, 2018 linked to the SPDR S&P Bank exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus double the fund gain, subject to a maximum return of 18%.
Investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC will act as placement agents.
The notes will price on Aug. 25.
The Cusip number is 40435FEM5.
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