By Tali Rackner
Norfolk, Va., Jan. 21 – HSBC USA Inc. priced $1.89 million of 0% dual directional trigger Performance Leveraged Upside Securities due Jan. 18, 2019 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will be par plus two times the fund’s gain, subject to a maximum payment of $14.40 per trigger PLUS.
If the fund falls but finishes at or above the 80% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is a distributor.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional trigger Performance Leveraged Upside Securities
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| Underlying fund: | Energy Select Sector SPDR fund
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| Amount: | $1,889,570
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| Maturity: | Jan. 18, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If fund finishes at or above its initial level, par plus two times the gain subject to maximum payment of $14.40 per trigger PLUS; if the fund falls by up to 20%, par plus the absolute value of the return; otherwise, full exposure to losses
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| Initial share price: | $54.35
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| Trigger price: | $43.48, 80% of initial price
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| Pricing date: | Jan. 15
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| Settlement date: | Jan. 21
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| Agent: | HSBC Securities (USA) Inc.
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| Distributor: | Morgan Stanley Wealth Management
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| Fees: | 3%
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| Cusip: | 40434K230
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