By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. priced $1.35 million of 0% market plus notes due Aug. 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 65% knockout level, the payout at maturity will be par plus the greater of 127% of any index gain and zero.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Market plus notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.35 million
|
| Maturity: | Aug. 31, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above the 65% knockout level, par plus the greater of 127% of any index gain and zero; otherwise, full exposure to any losses
|
| Initial level: | 1,940.51
|
| Knock-out buffer: | 35%
|
| Pricing date: | Aug. 26
|
| Settlement date: | Aug. 31
|
| Agent: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 3%
|
| Cusip: | 40433B7M4
|
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