By Wendy Van Sickle
Columbus, Ohio, May 14 – HSBC USA Inc. priced $1.66 million of 0% buffered accelerated market participation securities due April 30, 2024 linked to the SPDR S&P Biotech ETF, 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 30.5%.
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
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| Amount: | $1,655,000
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| Maturity: | April 30, 2024
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | Par plus 150% of any ETF gain, capped at par plus 30.5%; par if ETF declines by 15% or less; 1% loss for every 1% ETF decline beyond 15% buffer
|
| Initial ETF level: | $139.35
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40438C4J7
|
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