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HSBC plans trigger jump securities due 2021 linked to S&P 500
By Jennifer Chiou
New York, Feb. 27 – HSBC USA Inc. plans to price 0% trigger jump securities due April 6, 2021 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will equal par plus the greater of the return and an upside payment of at least 40%. The exact upside payment will be determined at pricing.
Investors will receive par if the index falls by up to 40% and will be fully exposed to the index decline if it finishes below the 60% trigger level.
The notes (Cusip: 40434F181) will price on March 31 and settle on April 6.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the distributor.
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