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HSBC plans five-year trigger performance securities linked to S&P 500
By Susanna Moon
Chicago, Jan. 5 – HSBC USA Inc. plans to price 0% trigger performance securities due Jan. 31, 2020 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 102% to 112% of any index gain. The exact participation rate will be set at pricing.
If the index finishes at or above the trigger level, 60% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on Jan. 27 and settle on Jan. 30.
The Cusip number is 40434F637.
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