By Toni Weeks
San Luis Obispo, Calif., May 30 - HSBC USA Inc. priced $18.62 million of 0% airbag performance securities due May 31, 2024 linked to the EuroStoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 205% of the gain.
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.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $18,618,000
|
| Maturity: | May 31, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return is positive, par plus 205% of gain; if return is zero or negative but at least negative 50%, par; if return is less than negative 50%, 2% loss for every 1% decline beyond 50%
|
| Initial level: | 3,246.24
|
| Pricing date: | May 28
|
| Settlement date: | May 30
|
| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 40434C618
|
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