By Susanna Moon
Chicago, Dec. 23 – HSBC USA Inc. priced $1.02 million of 0% leveraged buffered uncapped market participation securities due Dec. 23, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.05 times any gain in the fund.
Investors will receive par if the fund falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Leveraged buffered uncapped market participation securities
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| Underlying fund: | PowerShares S&P 500 Low Volatility Portfolio ETF
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| Amount: | $1,016,000
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| Maturity date: | Dec. 23, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.05 times any fund gain; par if fund falls by up to 20%; 1% loss for every 1% drop beyond 20%
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| Initial level: | 37.88
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| Buffer level: | 80% of initial level
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| Pricing date: | Dec. 18
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| Settlement date: | Dec. 23
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 3.7%
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| Cusip: | 40433BVP0
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