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HSBC to price three-year SelectInvest notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., March 2 – HSBC USA Inc. plans to price 0% SelectInvest debt securities due March 26, 2018 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 41%. The exact maximum return will be set at pricing. 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 March 20 and settle March 25.
The Cusip number is 40433BC97.
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