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HSBC plans buffered return enhanced notes tied to Energy Select fund
By Marisa Wong
Morgantown, W.Va., Nov. 12 – HSBC USA Inc. plans to price 0% buffered return enhanced notes due Nov. 20, 2017 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 1.5 times the fund return, up to a maximum return of 30.9%. Investors will receive par if the fund declines by 15% or less and will lose 1.1765% for every 1% that the fund declines beyond 15%.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
The notes will price Nov. 13 and settle Nov. 18.
The Cusip number is 40433UDG8.
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