By Angela McDaniels
Tacoma, Wash., Aug. 30 - HSBC USA Inc. priced $9.78 million of 0% airbag performance securities due Aug. 31, 2023 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index's return is positive, the payout at maturity will be par plus 195% of the index return.
If the index's return is zero or negative and is greater than or equal to the threshold percentage, the payout will be par. The threshold percentage is negative 50%.
If the index's return is less than the threshold percentage, investors will lose 2% for every 1% that the index declines beyond 50%.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag performance securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $9,782,000
|
| Maturity: | Aug. 31, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index's return is positive, par plus 195% of index return; if index's return is zero or negative and greater than or equal to negative 50%, par; if index return is less than negative 50%, 2% loss for every 1% that index declines beyond 50%
|
| Initial index level: | 2,742.61
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Financial Services Inc.
|
| Fees: | 5%
|
| Cusip: | 40433X340
|
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