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HSBC plans digital dual directional notes tied to Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Oct. 23 – HSBC USA Inc. plans to price 0% digital dual directional notes due April 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is at least negative 15%, the payout at maturity will be par plus the greater of the index return, subject to a cap, and the minimum upside return of 5%. The maximum return will be at least 18% and will be set at pricing.
If the index return is less than negative 15%, the payout will be par plus the index return with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in October.
The Cusip number is 40433UDC7.
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