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HSBC plans contingent buffered notes linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Oct. 19 – HSBC USA Inc. plans to price 0% contingent buffered notes due Jan. 24, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the final level is less than the initial level by more than 85%.
If a knock-out event has not occurred, the payout at maturity will be par plus a digital return of 8.6%. Otherwise, the payout will be par plus the index return with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.
The notes will price Oct. 21.
The Cusip number is 40433UXY7.
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