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HSBC plans to price five-year trigger gears notes linked to S&P 500
By Devika Patel
Knoxville, Tenn., April 13 – HSBC USA Inc. plans to price 0% trigger gears notes due April 19, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the upside gearing of between 1.45 times and 1.5 times the gain.
If the index falls but finishes at or above the 70% trigger level, the payout will be par.
If the index falls by more than 30%, investors will be fully exposed to any losses.
HSBC USA Inc. is the agent.
The notes (Cusip: 40434N374) will price on April 14 and settle on April 19.
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