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HSBC plans five-year trigger performance securities linked to S&P 500
By Toni Weeks
San Diego, Feb. 6 - HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 28, 2017 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 134% to 144% 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: 40433K512) are expected to price Feb. 24 and settle Feb. 29.
HSBC Securities (USA) Inc. will be the underwriter, and UBS Financial Services Inc. will act as agent.
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