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HSBC plans buffered market participation notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 3 - HSBC USA Inc. plans to price 0% buffered market participation securities due Sept. 27, 2016 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain, up to a maximum return of 45% to 50%.
Investors will receive par if the index falls by up to 40% and will lose 1% for every 1% decline beyond 40%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 10 and settle on Oct. 16.
The Cusip number is 40432XMD0.
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