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HSBC plans three-year SelectInvest notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., June 6 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due June 30, 2017 linked to the iShares MSCI Emerging Markets ETF, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus the ETF return, subject to a maximum return of at least 23%. If the ETF declines by 15% or less, the payout will be par. If the ETF declines by more than 15%, investors will lose 1% for every 1% that the ETF return is below negative 15%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price June 25 and settle June 30.
The Cusip number is 40433BCS5.
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