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HSBC to price 0% airbag optimization securities linked to S&P 500
By Toni Weeks
San Luis Obispo, Calif., May 3 - HSBC USA Inc. plans to price 0% airbag optimization securities due May 9, 2017 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the index return, subject to a maximum return of 38.5% to 40.5% that will be set at pricing. Investors will receive par if the index falls by up to 25% and will lose 1.3333% per 1% decline beyond the 25% buffer.
The notes (Cusip: 40433X746) are expected to price May 6 and settle May 9.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
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