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HSBC to price dual directional trigger PLUS linked to S&P 500 index
By Devika Patel
Knoxville, Tenn., Oct. 12 – HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 5, 2019 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus double the gain.
If the index falls but finishes at or above the 80% trigger level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will lose 1% for each 1% decline of the index.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as dealer.
The notes (Cusip: 40435B619) will price on Oct. 31 and settle on Nov. 3.
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