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HSBC plans to price 10-year trigger gears linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Feb. 22 – HSBC USA Inc. plans to price 0% trigger gears due Feb. 26, 2027 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 1.55 to 1.75 times any index gain.
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% downside threshold level.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Feb. 23.
The Cusip number is 40435C278.
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