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HSBC plans buffered uncapped market participation notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Jan. 3 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Jan. 27, 2015 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return. If the index return is less than or equal to zero but greater than or equal to the buffer level, the payout will be par. Investors will lose 1% for every 1% that the index return is less than the buffer level.
The buffer level is expected to be negative 20% to negative 25% and will be set at pricing.
The notes (Cusip: 4042K1VC4) are expected to price Jan. 24 and settle Jan. 27.
HSBC Securities (USA) Inc. is the agent.
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