By Toni Weeks
San Luis Obispo, Calif., April 24 – HSBC USA Inc. priced $3 million of 0% barrier Accelerated Market Participation Securities due Oct. 29, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the fund, up to a maximum return of 59%.
Investors will receive par if the fund falls by up to 25% and will be fully exposed to any losses if the fund finishes below the 75% barrier.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier Accelerated Market Participation Securities
|
| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $3 million
|
| Maturity: | Oct. 29, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any fund gain, capped at 59%; par if fund declines by 25% or less; full exposure to any losses if fund falls below barrier level
|
| Initial level: | $53.57
|
| Barrier level: | 75% of initial level
|
| Pricing date: | April 23
|
| Settlement date: | April 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2%
|
| Cusip: | 40433BV21
|
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