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HSBC plans 10-year trigger performance securities tied to S&P 500
By Jennifer Chiou
New York, June 7 - HSBC USA Inc. plans to price 0% trigger performance securities due June 30, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 180% to 200% of any index gain, with the exact participation rate to be set at pricing.
Investors will receive par if the index falls by up to 50% and will be fully exposed to losses if the index drops beyond 50%.
The notes (Cusip: 40433C742) are expected to price on June 27 and settle on June 30.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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