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

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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