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HSBC to price leveraged buffered uncapped notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 16 – HSBC USA Inc. plans to price 0% leveraged Buffered Uncapped Market Participation Securities due May 29, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus at least 120% of the index return. The exact upside participation rate will be set at pricing. Investors will receive par if the index falls by 20% or less and will lose 1.25% for every 1% that the index declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price May 20.
The Cusip number is 40433UMW3.
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