By Wendy Van Sickle
Columbus, Ohio, Oct. 24 – HSBC USA Inc. priced $3 million of 0% buffer gears due Oct. 21, 2025 linked to the lesser performing of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.2125 times any index gain.
Investors will receive par if the index falls by up to 25% and lose 1% for every 1% decline beyond 25%.
HSBC Securities (USA) Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffer gears
|
| Underlying index: | S&P 500
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| Amount: | $3 million
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| Maturity: | Oct. 21, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.2125 times any index gain; par if the index falls by up to 25%; 1% loss for every 1% decline beyond 25%
|
| Initial level: | 2,809.92
|
| Downside threshold: | 2,107.44, 75% of initial level
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| Strike date: | Oct. 16
|
| Pricing date: | Oct. 17
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| Settlement date: | Oct. 22
|
| Agents: | HSBC Securities (USA) Inc. and UBS Financial Services Inc.
|
| Fees: | 3.5%
|
| Cusip: | 40436A875
|
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