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HSBC plans buffered uncapped market participation notes on S&P 500
By Marisa Wong
Madison, Wis., Jan. 2 - HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Jan. 29, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return. Investors will receive par if the index falls by an amount no greater than the buffer and will lose 1% for every 1% that it declines beyond the buffer, which is expected to be at least 20% and will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will to price Jan. 24 and settle Jan. 29.
The Cusip number is 40432XRP8.
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