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HSBC to price five-year SelectInvest notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., Sept. 4 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due Sept. 26, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, 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 55%. The exact maximum return will be set at pricing. If the ETF declines by 20% or less, the payout will be par. If the ETF declines by more than 20%, investors will lose 1% for every 1% that the ETF return is below negative 20%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price Sept. 19 and settle Sept. 26.
The Cusip number is 40433BLJ5.
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