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HSBC to price trigger performance notes linked to Vanguard FTSE EM
By Toni Weeks
San Luis Obispo, Calif., Sept. 4 – HSBC USA Inc. plans to price 0% trigger performance securities due Sept. 29, 2017 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 113% to 120% of any fund gain. The exact participation rate will be set at pricing.
If the fund finishes at or above the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
The notes will price on Sept. 25 and settle on Sept. 30.
The Cusip number is 40434D673.
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