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HSBC plans five-year SelectInvest securities tied to iShares MSCI EM
By Jennifer Chiou
New York, April 3 - HSBC USA Inc. plans to price 0% Selections due April 29, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
Selections are debt securities offered under HSBC's SelectInvest Program for April 2014.
If the fund return is positive, the payout at maturity will be par plus the fund gain, subject to a maximum return of at least 41%. The exact cap will be set at pricing.
If the fund falls by up to 25%, the payout will be par.
If the fund falls by more than 25%, investors will lose 1% for every 1% decline beyond 25%.
The notes (Cusip: 40432XX48) are expected to price on April 24 and settle on April 29.
HSBC Securities (USA) Inc. is the agent.
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