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HSBC to price trigger performance securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 11 - HSBC USA Inc. plans to price 0% trigger performance securities due Sept. 28, 2018 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 determined at pricing.
If the index return is zero or negative and the final index level is equal to or greater than the trigger level, 60% of the initial level, the payout will be par.
If the final level is less than the trigger level, investors will be fully exposed to the decline in the index from its initial level.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
The notes are expected to price Sept. 25 and settle Sept. 30.
The Cusip number is 40432XKQ3.
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