By Kiku Steinfeld
Chicago, June 8 – HSBC USA Inc. priced $551,000 of 0% dual directional barrier notes with call feature due May 13, 2024 linked to the lesser performing of the Energy Select Sector SPDR fund and the Financial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus 28% if each ETF closes at or above its initial share price on May 10, 2022.
If the lesser-performing ETF’s return is greater than or equal to zero, the payout at maturity will be par plus 150% of that ETF’s return.
If the lesser-performing ETF’s return is less than zero but greater than or equal to negative 30%, the payout will be par plus the absolute value of that ETF’s return.
If the lesser-performing ETF’s return is less than negative 30%, the payout will be a number of shares of that ETF equal to $1,000 divided by that ETF’s initial share price.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional barrier notes with call feature
|
| Underlying ETFs: | Energy Select Sector SPDR fund and Financial Select Sector SPDR fund
|
| Amount: | $551,000
|
| Maturity: | May 13, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Call: | Automatically at par plus 28% if each ETF closes at or above its initial share price on May 10, 2022
|
| Payout at maturity: | If lesser-performing ETF’s return is greater than or equal to zero, par plus 150% of that ETF’s return; if lesser-performing ETF’s return is less than zero but greater than or equal to negative 30%, par plus absolute value of that ETF’s return; if lesser-performing ETF’s return is less than negative 30%, number of shares of lesser-performing ETF equal to $1,000 divided by that ETF’s initial share price
|
| Initial share prices: | $53.63 for Energy and $37.78 for Financial
|
| Trigger values: | 70% of initial share prices
|
| Pricing date: | May 7
|
| Settlement date: | May 12
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.25%
|
| Cusip: | 40428HQG0
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