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HSBC to price step down trigger autocallable notes on S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 18 – HSBC USA Inc. plans to price 0% step down trigger autocallable notes due Oct. 31, 2023 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annual call premium of 7.5% to 8.5% if each index closes at or above its initial level on any of the first four valuation dates or at or above the 75% downside threshold on the final valuation date.
If the notes are not called, the payout at maturity will be par plus the return of the worse performing index with full exposure to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Oct. 29 and settle on Oct. 31.
The Cusip number is 40436A867.
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