New Issue: HSBC prices $744,000 leveraged buffered capped notes on EM ETF

By Sarah Lizee

Olympia, Wash., April 3 – HSBC USA Inc. priced $744,000 of 0% leveraged buffered capped notes due Feb. 10, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.6 times any ETF gain, up to a maximum settlement amount of $ $1,241.28 per $1,000 principal amount.

Investors will receive par if the ETF falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Leveraged buffered capped notes
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$744,000
Maturity:	Feb. 10, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If ETF return is positive, par plus 160% of ETF return, subject to maximum settlement amount of $1,241.28 per $1,000 principal amount; par if ETF declines by 15% or less; 1.1765% loss for every 1% that ETF declines beyond 15%
Initial level:	$43.63
Pricing date:	April 1
Settlement date:	April 8
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435UJT2

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