Chicago, Oct. 24 – HSBC USA Inc. priced $1 million of 0% barrier market participation securities due Feb. 27, 2023 tied to the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus the return, subject to a maximum payout of par plus 10%.
Investors will receive par if the ETF falls by up to 30%.
Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier market participation securities
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| Underlying ETF: | iShares MSCI EAFE ETF
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| Amount: | $1 million
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| Maturity: | Feb. 27, 2023
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus any ETF gain up to 10%; par if ETF falls by up to 30%; otherwise, 1% loss for each 1% decline of ETF
|
| Initial level: | $75.30
|
| Barrier level: | 70% of initial level
|
| Pricing date: | Feb. 18
|
| Settlement date: | Feb. 24
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40439JB95
|
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