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HSBC plans buffered uncapped market participation notes on the Dow
By Jennifer Chiou
New York, Oct. 3 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Oct. 30, 2017 linked to the Dow Jones industrial average, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain.
Investors will receive par if the index falls by up to the 15% to 20% buffer, with the exact level to be set at pricing, and will lose 1% for every 1% decline beyond the buffer.
The notes (Cusip: 40432XM32) are expected to price on Oct. 24 and settle on Oct. 29.
HSBC Securities (USA) Inc. is the agent.
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