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HSBC plans buffered performance plus notes tied to S&P 500 index
By Toni Weeks
San Diego, Nov. 1 - HSBC USA Inc. plans to price 0% buffered performance plus securities due Nov. 28, 2016 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the minimum upside return and the index return. The minimum upside return is expected to be 13% to 18% and will be set at pricing. Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.
The notes will price Nov. 21 and settle Nov. 27.
HSBC Securities (USA) Inc. is the agent.
The Cusip number is 40432X2F7.
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