US wrap: HSBC offers single-country exposure to emerging markets as issuance surges

HSBC product provides exposure to Brazil

Issuance in the US has returned to normal levels after several weeks in which offerings were much smaller than usual. There is a proliferation of accelerated growth products in the latest issuance, with HSBC offering exposure to ever-popular emerging markets but through single countries rather than broad emerging markets indexes. One of the HSBC products is the 18-month Buffered Accelerated Market Participation Securities linked to the iShares FTSE/Xinhua China 25 Index Fund. The notes offer