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HSBC plans three-year capped trigger gears tied to S&P MidCap 400
By Susanna Moon
Chicago, July 12 – HSBC USA Inc. plans to price 0% capped trigger gears due July 29, 2021 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 2 times any index gain, up to a maximum return of 26.5% to 29.5%.
If the index falls by up to the 75% downside threshold, the payout will be par.
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 July 26 and settle on July 31.
The Cusip number is 40435X835.
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