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HSBC USA plans to price Market Index Target-Term notes linked to Dow
By Devika Patel
Knoxville, Tenn., Jan. 28 – HSBC USA Inc. plans to price 0% Market Index Target-Term Securities due February 2023 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 of $10 plus the index return, subject to a maximum of 35% to 45%. The exact cap will be set at pricing.
If the index is flat or negative, the payout will be par.
HSBC USA Inc. and Merrill Lynch, Pierce, Fenner & Smith Inc. are the agent.
The notes will price in February and settle in March.
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