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HSBC plans 10-year trigger gears with no cap linked to S&P 500
By Susanna Moon
Chicago, Dec. 13 – HSBC USA Inc. plans to price 0% trigger gears due Dec. 31, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.45 to 1.65 times any index gain, with exact upside gearing to be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to any losses if the index finishes below the 50% trigger level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
The notes will price on Dec. 27 and settle on Dec. 30.
The Cusip number is 40435B171.
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