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HSBC plans four-year callable Stars tied to S&P Biotechnology Select
By Susanna Moon
Chicago, Jan. 26 – HSBC USA Inc. plans to price Strategic Accelerated Redemption Securities due January 2021 linked to the S&P Biotechnology Select Industry, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be callable at par of $10 plus an annualized call premium of 13% to 14% if the index closes at or above its initial level on any of four annual review dates. The exact call premium will be set at pricing.
The payout at maturity will be par unless the index falls, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in January and settle in February.
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