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HSBC to price trigger absolute return step securities tied to S&P 500
By Marisa Wong
Morgantown, W.Va., Aug. 21 – HSBC USA Inc. plans to price 0% trigger absolute return step securities 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 finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the gain and the step return of 30% to 34%.
If the index falls by up to the 70% downside threshold, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Aug. 28.
The Cusip number is 40435G733.
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