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HSBC plans five-year trigger performance securities linked to S&P 500
By Toni Weeks
San Diego, Sept. 30 - HSBC USA Inc. plans to price 0% trigger performance securities due Oct. 31, 2016 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 130% to 140% of the index return. The exact participation rate will be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if the index falls by more than 50%.
The notes (Cusip: 40433C387) are expected to price Oct. 26 and settle Oct. 31.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
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