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HSBC to price airbag performance securities linked to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., Aug. 6 – HSBC USA Inc. plans to price 0% airbag performance securities due Aug. 30, 2024 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 178% to 198% of the gain, with the exact participation rate to be set at pricing.
If the index return is zero or negative and the final index level is greater than or equal to the 50% threshold percentage, the payout will be par.
If the index falls by more than 50%, investors will lose 2% for every 1% decline in the index beyond the 50% buffer.
The notes (Cusip: 40434D855) are expected to price Aug. 27 and settle Aug. 29.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
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