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Goldman plans five-year trigger gears with no cap tied to S&P 500
By Susanna Moon
Chicago, April 12 – HSBC USA Inc. plans to price 0% trigger gears due April 28, 2023 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 plus 1.1 times to 1.18 times any index gain.
If the index falls by up to 40%, the payout will be par.
Investors will lose 1% for each 1% decline if the index finishes below its 60% downside threshold.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on April 25.
The Cusip number is 40435M631.
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