By Susanna Moon
Chicago, Nov. 1 - HSBC USA Inc. priced $18.46 million of 0% airbag performance securities due Oct. 31, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 186.93% of any index gain.
If the index falls by up to the 50% trigger level, the payout will be par.
Otherwise, investors will lose 2% for every 1% decline beyond 50%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $18,455,000
|
| Maturity: | Oct. 31, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 186.93% of any index gain; if index falls by up to 50%, par; otherwise, 2% loss for every 1% decline beyond 50%
|
| Initial index level: | 3,050.64
|
| Trigger level: | 50% of initial level
|
| Pricing date: | Oct. 29
|
| Settlement date: | Oct. 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 40433X126
|
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