Chicago, Dec. 5 – HSBC USA Inc. priced $191,000 of 0% barrier participation notes with call feature due April 1, 2024 linked to the Financial Select Sector SPDR Fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 12.5% if each ETF closes at or above its initial level on March 29, 2023.
If the notes are not called and each ETF finishes at or above its initial level, the payout at maturity will be par plus 1.8 times the return of the least performing ETF.
If the least performing ETF declines but finishes at or above its 70% barrier level, the payout will be par.
Otherwise, investors will be fully exposed to the decline of the least performing ETF from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier participation notes with call feature
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| Underlying funds: | Financial Select Sector SPDR Fund, SPDR S&P Regional Banking ETF
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| Amount: | $191,000
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| Maturity: | April 1, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.8 times return of least performing ETF if each ETF finishes at or above its initial level; par if least performer falls by up to barrier level; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus 12.5% if each ETF closes at or above its initial level on March 29, 2023
|
| Initial levels: | $39.41 for Financial, $71.08 for Banking
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| Barrier levels: | 70% of initial levels
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| Pricing date: | March 28
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| Settlement date: | March 31
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.25%
|
| Cusip: | 40439JF83
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