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HSBC to price buffered uncapped participation notes tied to the Dow
By Marisa Wong
Madison, Wis., March 2 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due March 26, 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 15% to negative 20% and will be set at pricing.
The notes (Cusip: 4042K1ZL0) are expected to price on March 23 and settle on March 28.
HSBC Securities (USA) Inc. is the agent.
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