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HSBC plans trigger performance notes linked to Vanguard FTSE EM fund
By Susanna Moon
Chicago, March 6 - HSBC USA Inc. plans to price 0% trigger performance securities due March 29, 2019 linked to the Vanguard FTSE Emerging Markets ETF, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 103% to 113% of any fund gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 40% and will be fully exposed to losses if the fund finishes below the 60% trigger level.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
The notes will price on March 26 and settle on March 31.
The Cusip number is 40434C600.
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