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HSBC to price trigger performance securities linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Aug. 10 - HSBC USA Inc. plans to price 0% trigger performance securities due Jan. 16, 2015 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 107% to 109% of the index return. The exact participation rate will be set at pricing.
If the index declines by 40% or less, the payout will be par.
Investors will be fully exposed to the decline if the index falls by more than 40%.
The notes (Cusip: 40433C577) are expected to price Aug. 11 and settle Aug. 16.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
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