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HSBC plans to price airbag performance notes linked to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., March 5 - HSBC USA Inc. plans to price 0% airbag performance securities due March 31, 2023 linked to the EuroStoxx 50 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 plus 260% to 275% of the gain.
If the index return is zero or negative and the final index level is greater than or equal to the 50% threshold level, the payout will be par.
If the index falls by more than 50%, investors will lose 2% for every 1% decline in the index beyond the 50% buffer.
The notes (Cusip: 40433T174) are expected to price March 26 and settle March 28.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
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