By Wendy Van Sickle
Columbus, Ohio, May 13 – HSBC USA Inc. sold $1.57 million of 0% buffered return enhanced notes due May 15, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.13 times any index gain.
Investors will receive par if the index falls by up to 15% and will lose 1.1765% for every 1% decline beyond 15%.
JPMorgan is the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Buffered return enhanced notes
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Underlying index: | S&P 500
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Amount: | $1.57 million
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Maturity: | May 15, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.13 times any index gain; par if index falls by up to 15%; 1.1765% loss for every 1% decline beyond 15%
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Initial index level: | 2,930.32
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Buffer level: | 85% of initial level
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Pricing date: | May 11
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Settlement date: | May 14
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Placement agent: | JPMorgan
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Fees: | 3%
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Cusip: | 40438CFR7
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