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HSBC plans trigger performance notes linked to S&P/TSX 60 index
By Marisa Wong
Madison, Wis., Aug. 4 – HSBC USA Inc. plans to price 0% trigger performance securities due Aug. 30, 2019 linked to the S&P/TSX 60 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 164% to 174% of any index gain. The exact participation rate will be set at pricing.
If the index finishes at or above the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes will price on Aug. 26 and settle on Aug. 29.
The Cusip number is 40434D871.
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