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HSBC plans buffered income securities with upside on S&P 500 index
New York, July 7 – HSBC USA Inc. plans to price 1% buffered income securities with upside participation due July 20, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The fixed coupon will be paid annually.
At maturity the securities will pay par plus 150% of any gain in the index capped at a $14.90 per $10 principal amount.
If the index declines by up to 15% the payout will be par. Investors will be exposed to any loss in the index beyond the 15% buffer level.
HSBC Securities (USA) Inc. is the agent and Morgan Stanley Wealth Management is distributor.
The notes will price on July 15 and settle on July 20.
The Cusip is 40434V525.
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