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HSBC plans seven-year trigger PLUS with no cap tied to S&P 500
By Susanna Moon
Chicago, Dec. 12 – HSBC USA Inc. plans to price 0% trigger Performance Leveraged Upside Securities due Jan. 3, 2024 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The notes will be guaranteed by Morgan Stanley.
If the index finishes at or above its initial level, the payout at maturity will be par plus 131.45% of the gain.
If the index falls but finishes at or above the 65% trigger level, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 28.
The Cusip number is 40435J836.
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