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HSBC plans growth opportunity averaging CDs linked to three indexes
By Angela McDaniels
Tacoma, Wash., July 10 – HSBC Bank USA, NA plans to price 0% growth opportunity averaging certificates of deposit due July 29, 2024 linked to a basket of indexes, according to a term sheet.
The basket includes equal weights of the Euro Stoxx 50 index, the Hang Seng index and the S&P 500 index.
The payout at maturity will be par plus the basket return, subject to a minimum return that is expected to be 6% to 9% and will be set at pricing.
When calculating the basket return, the final level of each index will be the average of that index’s closing levels on 28 quarterly observation dates during the life of the CDs.
HSBC Securities (USA) Inc. is the agent. Incapital LLC is distributor.
The trade date is July 24, and the pricing date is July 25.
The Cusip number is 40434YLV7.
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