By Marisa Wong
Morgantown, W.Va., Dec. 18 – HSBC USA Inc. priced $1 million of 0% leveraged participation securities due Dec. 21, 2020 linked to the Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is positive, the payout at maturity will be par plus 2.75 times the return. Investors will receive par if the currency return is zero or negative.
The currency return will be positive if the renminbi strengthens relative to the dollar.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Leveraged participation securities
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| Underlying currency: | Chinese renminbi versus the dollar
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| Amount: | $1 million
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| Maturity: | Dec. 21, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 275% of any currency gain, floor of par
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| Initial spot rate: | 6.6113
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| Pricing date: | Dec. 14
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| Settlement date: | Dec. 19
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
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| Cusip: | 40435FPB7
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