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HSBC to price five-year trigger gears linked to S&P 500 index
By Marisa Wong
Morgantown, W.Va., Sept. 25 – HSBC USA Inc. plans to price 0% trigger gears due Sept. 30, 2022 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.23 to 1.33 times the index return. Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price Sept. 26.
The Cusip number is 40435G337.
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