HSBC plans buffered uncapped market notes due 2018 linked to the Dow

By Marisa Wong

Madison, Wis., Nov. 4 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Nov. 26, 2018 linked to the Dow Jones industrial average, according to an FWP filing 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 15%, and will lose 1% for every 1% decline beyond 15%. The exact buffer level will be set at pricing but will be at least 15%.

HSBC Securities (USA) Inc. is the agent.

The notes are expected to price on Nov. 20 and settle on Nov. 25.

The Cusip number is 40433BSM1.

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