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HSBC plans six-year SelectInvest notes with buffer on iShares MSCI EM
By Susanna Moon
Chicago, April 25 - HSBC USA Inc. plans to price 0% SelectInvest notes due June 2, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain, up to a maximum return of at least 73%. The exact cap will be set at pricing.
The payout will be par if the fund falls by up to 30% and will lose 1% for every 1% decline beyond 30%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 23 and settle on June 2.
The Cusip number is 40432XZ46.
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