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HSBC plans CDs with 2%-5% minimum return linked to S&P 500 index
By Susanna Moon
Chicago, March 30 - HSBC Bank USA, NA plans to price 0% certificates of deposit with minimum return due April 12, 2016 based on the S&P 500 index, according to a term sheet.
The payout at maturity will be par plus any index gain with a minimum return of 2% to 5%. The exact rate will be set at pricing.
The CDs are putable with an early redemption charge.
The CDs will price on April 7 and settle on April 12.
HSBC Securities (USA) Inc. is the agent. Advisors Asset Management, Inc. is the distributor.
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