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HSBC to price capped gears due 2021 linked to EM ETF
By Sarah Lizee
Olympia, Wash., Aug. 21 – HSBC USA Inc. plans to price 0% capped gears due Oct. 29, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus 3 times the ETF return, subject to a maximum payout of par plus 15.4% to 17.4%. If the ETF return is less than zero, investors will have full exposure to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Aug. 26.
The Cusip number is 40438J148.
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