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HSBC plans digital barrier notes due 2021 linked to S&P 500 index
By Wendy Van Sickle
Columbus, Ohio, March 31 – HSBC USA Inc. plans to price 0% digital barrier notes due April 30, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index gains or stays the same, the payout at maturity will be par plus the greater of the index return and the minimum upside return of between 25% and 30%.
Investors will receive par if the index falls by up to 25%. Investors will be fully exposed to the index’s decline if it falls by more than 25%.
HSBC Securities (USA) is the agent.
The notes will price April 22 and settle April 29.
The Cusip number is 40433UKH8.
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