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HSBC plans buffered market participation securities on ETF basket
By Marisa Wong
Madison, Wis., April 11 - HSBC USA Inc. plans to price 0% buffered market participation securities due April 25, 2019 linked to a basket of exchange-traded funds, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the iShares Russell 3000 ETF with a 50% weight, the iShares MSCI EAFE ETF with a 35% weight and the iShares MSCI Emerging Markets ETF with a 15% weight.
The payout at maturity will be par plus any basket gain, up to a maximum return of 40% to 50% that will be set at pricing.
Investors will receive par if the basket falls by up to 40% and will lose 1% for every 1% decline beyond the 40% buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price April 21 and settle April 24.
The Cusip number is 40432XYK1.
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