By William Gullotti
Buffalo, N.Y., May 17 – HSBC USA Inc. priced $1.49 million of 0% barrier uncapped market participation securities due May 19, 2025 tied to the least performing of the Materials Select Sector SPDR Fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each fund is positive, the payout at maturity will be par plus 2.34 times the return of the least-performing fund
Investors will receive par if any fund falls by up to 30%.
Otherwise, investors will be fully exposed to the least-performing fund’s decline from its initial level.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier uncapped market participation securities
|
| Underlying funds: | Materials Select Sector SPDR Fund, SPDR S&P Biotech ETF
|
| Amount: | $1,493,000
|
| Maturity: | May 19, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each fund finishes above its initial level, par plus 2.34 times the increase of least-performing fund; par if any fund falls by up to 30%; otherwise, full exposure to least-performing fund’s decline
|
| Initial levels: | $82.49 for Materials, $68.60 for Biotech
|
| Barrier levels: | 70% of initial levels
|
| Pricing date: | May 13
|
| Settlement date: | May 18
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40439J3Q6
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