By Kiku Steinfeld
Chicago, April 2 – HSBC USA Inc. priced $525,000 of 0% buffered Accelerated Market Participation Securities due Sept. 20, 2021 tied to the Technology Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.15 times any ETF gain, up to a maximum return of 21.1%.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Buffered Accelerated Market Participation Securities
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| Underlying ETF: | Technology Select Sector SPDR fund
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| Amount: | $525,000
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| Maturity: | Sept. 20, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 115% of any ETF gain, capped at 21.1%; par if ETF falls by up to 10%; 1% loss for each 1% decline beyond 10%
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| Initial level: | $84.19
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| Buffer level: | 90% of initial level
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| Pricing date: | March 13
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| Settlement date: | March 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.275%
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| Cusip: | 40435U6K5
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