By Devika Patel
Knoxville, Tenn., May 24 – HSBC USA Inc. priced $2.75 million of 0% dual directional barrier securities due June 1, 2029 linked to the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 180% of the return.
If the ETF falls, but finishes at or above its 60% barrier level, the payout at maturity will be par plus the absolute value of the ETF return.
Otherwise, investors will lose 1% for each 1% decline of the ETF from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional barrier securities
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| Underlying ETF: | iShares MSCI EAFE
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| Amount: | $2.75 million
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| Maturity: | June 1, 2029
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If ETF return is positive, par plus 180% of the return; if ETF falls, but finishes at or above its barrier level, par plus absolute value of ETF return; otherwise, 1% loss for each 1% decline from initial level
|
| Initial level: | $64.94
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| Barrier level: | 60% of initial level
|
| Pricing date: | May 21
|
| Settlement date: | May 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | None
|
| Cusip: | 40435UNS9
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