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HSBC plans allocation securities linked to basket of three ETFs
By Wendy Van Sickle
Columbus, Ohio, Sept. 22 – HSBC USA Inc. plans to price 0% allocation securities due Sept. 30, 2021 linked to a basket of the SPDR S&P 500 exchange-traded fund, the iShares MSCI EAFE exchange-traded fund an d the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The best performing of the ETFs will be given a 60% weight, the second performing ETF will be weighted at 40%, and the lowest-performing ETF will not count toward the basket performance.
The payout at maturity will be par plus the basket return, which could be positive or negative.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
The notes will price on Sept. 27 and settle on Sept. 30.
The Cusip number is 40435B767.
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