By Sarah Lizee
Olympia, Wash., May 1 – HSBC USA Inc. priced $20,000 of 0% buffered Accelerated Market Participation Securities due Nov. 1, 2021 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any ETF gain, up to a maximum payout of 12.6%.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 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: | iShares MSCI Emerging Markets ETF
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Amount: | $20,000
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Maturity: | Nov. 1, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any ETF gain, up to 12.6% cap; par if ETF declines by 10% or less; 1% loss per 1% drop beyond 10%
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Initial level: | $36.30
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Buffer level: | 90% of initial level
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.5%
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Cusip: | 40438CET4
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