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HSBC plans to price capped gears linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., Dec. 20 – HSBC USA Inc. plans to price 0% capped gears due Feb. 26, 2021 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index’s return is positive, the payout at maturity will be par of $10 plus 300% of the index’s return, subject to a maximum return that is expected to be 11% to 13% and will be set at pricing. If the index’s return is negative, investors will be exposed to the decline.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price Dec. 26.
The Cusip number is 40438B384.
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