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HSBC plans trigger performance securities due 2023 linked to S&P 500
By Susanna Moon
Chicago, April 2 - HSBC USA Inc. plans to price 0% trigger performance securities due April 28, 2023 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 165% to 185% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses if the index falls below the 50% trigger level.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on April 25 and settle on April 30.
The Cusip number is 40433X803.
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