By Sarah Lizee
Olympia, Wash., Oct. 4 – HSBC USA Inc. priced $1.8 million of 0% dual directional knock-out notes due Sept. 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level is less than the initial level but is greater than or equal to the downside knock-out level, 73.85% of the initial level, the payout at maturity will be par plus the absolute value of the index return.
If the final level is greater than or equal to the initial level but is less than or equal to the upside knock-out level, 126.15% of the initial level, the payout will be par plus the return of the index.
If the final level is greater than the upside knock-out level or if the final level is less than the downside knock-out level, the payout will be par.
HSBC Securities (USA) Inc. is the agent, and J.P. Morgan Securities LLC and JPMorgan Chase Bank NA are the placement agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $1.8 million
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If the final level is less than the initial level but is greater than or equal to the downside knock-out level, par plus the absolute value of the index return; if the final level is greater than or equal to the initial level but is less than or equal to the upside knock-out level, par plus the return of the index; if the final level is greater than the upside knock-out level or if the final level is less than the downside knock-out level, par
|
| Initial index level: | 2,913.98
|
| Upside knock-out level: | 3,675.99, 126.15% of initial level
|
| Downside knock-out level: | 2,151.97, 73.85% of initial level
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 3
|
| Agent: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC and JPMorgan Chase Bank NA as placement agents
|
| Fees: | 2%
|
| Cusip: | 40435F5B9
|
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