By Toni Weeks
San Luis Obispo, Calif., July 22 – HSBC USA Inc. priced $2.05 million of 0% digital-plus barrier notes due Jan. 27, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to zero, the payout at maturity will be par plus the greater of the 32% minimum upside return and the index return.
If the final index level is less than the initial level and greater than or equal to the barrier level – 70% of the initial level – the payout at maturity will be par.
If the final index level is less than the barrier level, investors will be exposed to the decline from the initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Digital-plus barrier notes
|
| Underlying index: | S&P 500
|
| Amount: | $2,052,000
|
| Maturity: | Jan. 27, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index return is zero or positive, par plus greater of 32% and index return; par if index return is negative and index closes at or above barrier level; full exposure to losses from initial level if index declines more than 30%
|
| Initial level: | 1,978.22
|
| Barrier level: | 70% of initial level
|
| Pricing date: | July 18
|
| Settlement date: | July 25
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.75%
|
| Cusip: | 40433BER5
|
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