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HSBC to price five-year trigger performance notes linked to S&P 500
By Wendy Van Sickle
Columbus, Ohio, Jan. 6 – HSBC USA Inc. plans to price 0% trigger performance securities due Jan. 29, 2021 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 of $10 plus 112% to 122% of any index gain, with the exact participation rate to be set at pricing.
If the index declines by up to 40%, 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 agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 40434K198.
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