By Angela McDaniels
Tacoma, Wash., May 23 – HSBC USA Inc. priced $2.7 million of 0% buffered uncapped market participation securities due Aug. 24, 2020 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return. Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that the index declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered uncapped market participation securities
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $2.7 million
|
| Maturity: | Aug. 24, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any index gain; par if index falls by up to 10%; 1% loss for every 1% that index declines beyond 10%
|
| Initial index level: | 1,431.10
|
| Pricing date: | May 19
|
| Trade date: | May 20
|
| Settlement date: | May 24
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 4.25%
|
| Cusip: | 40433UNC6
|
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