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HSBC to price return optimization notes linked to iShares MSCI EM ETF
By Angela McDaniels
Tacoma, Wash., July 2 – HSBC USA Inc. plans to price 0% return optimization securities due Aug. 31, 2016 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 positive, the payout at maturity will be par of $10 plus three times the ETF return, subject to a maximum return that is expected to be 14.5% to 17.5% and will be set at pricing. If the ETF return is negative, investors will have full exposure to the ETF’s decline.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes are expected to price July 28 and settle July 31.
The Cusip number is 40434E812.
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