By William Gullotti
Buffalo, N.Y., March 26 – HSBC USA Inc. priced $3.44 million of 0% dual directional buffered notes with call feature due March 20, 2026 linked 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 an 8% premium if the index closes at or above its initial level on March 17, 2025.
If the notes are not called and the index finishes flat or gains, the payout at maturity will be par plus the return of the index.
If the index falls but finishes at or above the 79.5% buffer level, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1% for each 1% decline of the index beyond 20.5%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional buffered notes with call feature
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,435,000
|
| Maturity: | March 20, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the index gains, par plus the gain; if the index falls by up to 20.5%, par plus the absolute value of index return; otherwise, 1% loss for each 1% decline of index below 20.5%
|
| Call: | Automatically at par plus an 8% premium if the index closes at or above its initial level on March 17, 2025
|
| Initial level: | 5,150.48
|
| Buffer level: | 79.5% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.7%
|
| Cusip: | 40447AK78
|
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