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HSBC to price five-year trigger gears linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Aug. 21 – HSBC USA Inc. plans to price 0% trigger gears due Aug. 31, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.07 to 1.17 times the index return. Investors will receive par if the index declines by 40% or less and will lose 1% for each 1% decline from its initial level if the index declines by more than 40%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Aug. 28.
The Cusip number is 40435G717.
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