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HSBC plans buffered uncapped notes with lock-in floor on Euro Stoxx
By Susanna Moon
Chicago, Sept. 27 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities with lock-in floor due Sept. 27, 2016 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
A lock-in event will occur if the index rises by the lock-in floor amount during the life of the notes. The initial lock-in floor will be 30% to 35% and may step up during the term of the notes.
If a lock-in event occurs, the payout at maturity will be par plus the greater of any gain and the lock-in floor.
Investors will receive par if the index falls by up to the 10% and will lose 1% for every 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes will settle on Oct. 25.
The Cusip number is 40432XM99.
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