HSBC plans buffered uncapped market participation notes on the Dow

By Jennifer Chiou

New York, April 4 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due April 28, 2016 linked to the Dow Jones industrial average, according to an FWP with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus the index return. Investors will receive par if the index declines by up to the buffer amount and will lose 1% for every 1% that the index declines beyond the buffer. The buffer amount is expected to be 15% to 20% and will be set at pricing.

The notes (Cusip: 40432XDK4) will price on April 25 and settle on April 30.

HSBC Securities (USA) Inc. is the underwriter.

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