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HSBC to price airbag performance securities linked to FTSE 100 index
By Angela McDaniels
Tacoma, Wash., July 24 - HSBC USA Inc. plans to price 0% airbag performance securities due July 29, 2022 linked to the FTSE 100 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 228% to 236% of the return. The exact participation rate will be set at pricing.
If the index return is zero or negative but greater than or equal to negative 50%, the payout will be par.
If the index return is less than negative 50%, investors will lose 2% for every 1% that the index declines beyond 50%.
The notes are expected to price July 26 and settle July 31.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
The Cusip number is 40433M385.
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