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HSBC to sell Accelerated Return Notes due 2019 on Russell 2000 index
By Devika Patel
Knoxville, Tenn., Oct. 26 – HSBC USA Inc. plans to price 0% Accelerated Return Notes due January 2019 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return that is expected to be 11% to 15% and will be set at pricing. If the index return is negative, investors will lose 1% for each 1% decline of the index from its initial level.
BofA Merrill Lynch is the agent.
The notes will price and settle in November.
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