By Marisa Wong
Madison, Wis., Feb. 27 - HSBC USA Inc. priced $12.33 million of 0% trigger performance securities due Feb. 29, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par of $10 plus 161% of the gain.
If the index falls by up to the trigger level, 50% of the initial index level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying index: | S&P 500
|
| Amount: | $12,329,530
|
| Maturity date: | Feb. 29, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Par plus 161% of return if index gains; par if index falls by up to trigger level; otherwise, full exposure to losses
|
| Initial index level: | 1,845.12
|
| Trigger level: | 922.56, 50% of initial level
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 40434B354
|
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