By Kiku Steinfeld
Chicago, March 27 – HSBC USA Inc. priced $613,000 of 0% buffered uncapped market participation securities with call feature due Dec. 6, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 8% if the index closes at or above 100% of its initial level on Dec. 1, 2023.
If the notes are not called, the payout at maturity will be par plus 2.2 times any gain of the index.
If the index drops by no more than 30% of its initial level, investors will receive par.
Otherwise, investors will lose 1% for each 1% drop beyond 30%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered uncapped market participation securities with call feature
|
| Underlying index: | S&P 500 index
|
| Amount: | $613,000
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| Maturity: | Dec. 6, 2024
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| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 2.2 times any index gain; par if index falls but not below buffer level; otherwise full exposure to decline beyond buffer
|
| Call: | At par plus 8% if the index closes at or above 100% of its initial level on Dec. 1, 2023
|
| Initial level: | 4,076.57
|
| Buffer level: | 70% of initial levels
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 6
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.75%
|
| Cusip: | 40441XXM7
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