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HSBC to price trigger performance notes tied to Vanguard FTSE EM fund
By Tali Rackner
Norfolk, Va., Jan. 7 – HSBC USA Inc. plans to price 0% trigger performance securities due Jan. 29, 2021 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 145% to 155% of any fund gain, with the exact participation rate to be set at pricing.
If the fund declines by up to 25%, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 40434K180.
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