By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – HSBC USA Inc. priced $1.6 million of 0% capped dual directional contingent buffered enhanced notes due Sept. 26, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is at least 54.5% of its initial level, the payout at maturity will be par plus the absolute value of the return with the payout capped at par plus 45.5%.
If the index falls by more than 45.5%, investors will be fully exposed to any losses.
JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Capped dual directional contingent buffered enhanced notes
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| Underlying index: | S&P 500
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| Amount: | $1.6 million
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| Maturity: | Sept. 26, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final index level is at least 54.5% of initial level, be par plus the absolute value of the return with payout capped at par plus 45.5%; otherwise, full exposure to decline
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| Initial value: | 2,929.67
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 26
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| Placement agents: | JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 40435F3P0
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