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HSBC plans buffered uncapped market participation notes linked to Dow
By Angela McDaniels
Tacoma, Wash., July 1 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due July 31, 2017 linked to the Dow Jones industrial average, according to an FWP filing 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, which is expected to be 15% to 20% and will be set at pricing, and will lose 1% for every 1% that the index declines beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price July 26 and settle July 31.
The Cusip number is 40432XH95.
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