By Angela McDaniels
Tacoma, Wash., Dec. 4 – HSBC USA Inc. priced $5.16 million of 0% dual directional trigger jump securities due Dec. 5, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus the greater of the ETF return and 25.5%.
If the final share price is less than the initial share price but is greater than or equal to the trigger price, 80% of the initial share price, the payout will be par plus the absolute value of the ETF return.
If the final share price is less than the trigger price, investors will lose 1% for every 1% that the ETF declines from its initial share price.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional trigger jump securities
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $5,156,750
|
| Maturity: | Dec. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If ETF finishes at or above initial share price, par plus greater of ETF return and 25.5%; if ETF falls but finishes at or above trigger price, par plus absolute value of ETF return; if ETF finishes below trigger price, 1% loss for every 1% that ETF declines from initial share price
|
| Initial share price: | $46.10
|
| Trigger share price: | $36.88, 80% of initial share price
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Agent: | HSBC Securities (USA) Inc.
|
| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 40435H236
|
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