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HSBC to price leveraged buffered notes linked to high-dividend fund
By Angela McDaniels
Tacoma, Wash., April 27 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due May 29, 2020 linked to the PowerShares S&P 500 High Dividend Portfolio, according to an FWP filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus at least 120% of the ETF return. The exact participation rate will be set at pricing. Investors will receive par if the ETF falls by 20% or less and will lose 1% for every 1% that the ETF declines beyond 20%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price May 26 and settle May 29.
The Cusip number is 40433BT24.
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