HSBC to price buffered market participation notes on Energy Select ETF

By Marisa Wong

Morgantown, W.Va., July 20 – HSBC USA Inc. plans to price 0% buffered market participation securities due Oct. 29, 2018 linked to the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any ETF gain, subject to a maximum return of 12%. Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price July 24.

The Cusip number is 40435FCF2.

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