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HSBC plans 5% buffered notes with annual coupons linked to S&P 500
By Susanna Moon
Chicago, Sept. 8 – HSBC USA Inc. plans to price 5% buffered notes with fixed annual coupons due Sept. 17, 2024 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable annually.
The payout at maturity will be par unless the index falls by more than 20%, in which case investors will lose 1.25% for each 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 12 and settle on Sept. 17.
The Cusip number is 40433BNL8.
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