By William Gullotti
Buffalo, N.Y., Jan. 6 – HSBC USA Inc. priced $1.79 million of 0% buffered uncapped market participation securities due Nov. 30, 2023 tied to the performance of the iShares MSCI EAFE ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If each ETF finishes positive, the payout at maturity will be par plus 1.74 times any gain of the least performing ETF.
If any ETF falls but the lowest ETF drops by no more than 5% of its initial level, investors will receive par.
Otherwise, investors will lose 1% for each 1% drop of the lowest ETF beyond 5%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered uncapped market participation securities
|
| Underlying ETFs: | iShares MSCI EAFE ETF, iShares MSCI Emerging Markets ETF
|
| Amount: | $1,785,000
|
| Maturity: | Nov. 30, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.74 times any gain of least performing ETF; par if any ETF falls but lowest ETF drops by no more than 5% of initial level; otherwise, 1% loss for each 1% drop of lowest ETF beyond 5%
|
| Initial levels: | $79.26 for EAFE ETF, $50.39 for EM ETF
|
| Buffer level: | 95% of initial levels
|
| Pricing date: | Nov. 24
|
| Settlement date: | Nov. 30
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40439JSW6
|
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