By Marisa Wong
Los Angeles, June 21 – HSBC USA Inc. priced $507,000 of 0% buffered accelerated market participation securities due April 1, 2024 linked to the SPDR S&P Biotech 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 150% of the ETF return, capped at par plus 37.5%.
Investors will receive par if the ETF falls by 15% or less and will lose 1% for every 1% decline beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered accelerated market participation securities
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $507,000
|
| Maturity: | April 1, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any ETF gain, capped at par plus 37.5%; par if ETF declines by 15% or less; 1% loss for every 1% ETF decline beyond 15% buffer
|
| Initial ETF price: | $133.06
|
| Pricing date: | March 26
|
| Settlement date: | March 31
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40438C2B6
|
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