By Marisa Wong
Morgantown, W.Va., April 4 – HSBC USA Inc. priced $35.54 million of 0% dual directional trigger jump securities due April 5, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus the greater of the index return and 28.5%.
If the final index level is less than the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level will be 70% of the initial index level.
If the final index level is less than the trigger level, investors will be exposed to the decline from the initial index level.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional trigger jump securities
|
| Underlying index: | S&P 500
|
| Amount: | $35,536,270
|
| Maturity: | April 5, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the final index level is greater than or equal to the initial index level, par plus the greater of the index return and 28.5%; if the final index level is less than the initial index level but greater than or equal to the trigger level, par plus the absolute value of the index return; otherwise, investors will be exposed to the decline from the initial index level
|
| Initial index level: | 2,362.72
|
| Trigger level: | 1,653.904, 70% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 40435H822
|
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