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HSBC plans 10-year trigger performance notes linked to S&P/TSX 60
By Susanna Moon
Chicago, June 24 – HSBC USA Inc. plans to price 0% trigger performance securities due June 30, 2025 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 202% to 208% of any index gain. The exact participation rate will be set at pricing.
If the index falls by up to the 50% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is agent.
The notes will price on June 25 and settle on June 30.
The Cusip number is 40434E861.
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