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HSBC plans dual directional trigger PLUS notes tied to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., April 1 - HSBC USA Inc. plans to price 0% dual directional trigger Performance Leveraged Upside Securities due Nov. 5, 2019 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus at least 150% of the index return. The exact participation rate will be set at pricing.
If the index falls but is greater than or equal to the 65% trigger level, the payout will be par plus the absolute value of the return.
If the index falls by more than 35%, investors will be fully exposed to the decline in the index from the initial level.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40434C782) will price April 30 and settle May 5.
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