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HSBC to price trigger performance securities linked to S&P 500
By Marisa Wong
Madison, Wis., Feb. 5 - HSBC USA Inc. plans to price 0% trigger performance securities due Feb. 29, 2024 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 142% to 162% of the return. The exact participation rate will be determined at pricing.
If the index return is zero or negative and the final level is equal to or greater than the trigger level, 50% 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 index's decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes are expected to price Feb. 25 and settle Feb. 28.
The Cusip number is 40434B354.
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