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HSBC to price trigger performance securities linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., July 14 - HSBC USA Inc. plans to price 0% trigger performance securities due July 30, 2021 linked to the S&P 500 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 of $10 plus 200% to 210% of the index return. The exact participation rate will be set at pricing.
If the final index level is 50% to 100% of the initial index level, the payout will be par.
If the final index level is less than 50% of the initial level, the payout will be par plus the index return.
The notes (Cusip: 40433C643) are expected to price July 26 and settle July 29.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
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