By Kiku Steinfeld
Chicago, May 18 – HSBC USA Inc. priced $342,000 of 0% trigger Performance Leveraged Upside Securities due Dec. 5, 2022 linked to the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par of $10 plus 108% of the ETF return.
Investors will receive par if the fund declines by 10% or less and will be fully exposed to the fund’s decline from its initial share price if it falls by more than 10%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying ETF: | Energy Select Sector SPDR fund
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Amount: | $342,000
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Maturity: | Dec. 5, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the fund return is positive, par plus 108% of the ETF return; par if the fund declines by 10% or less; full exposure to the fund’s decline from its initial share price if it falls by more than 10%
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Initial price: | $38.78
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Trigger price: | $34.902, 90% of initial price
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Pricing date: | May 8
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Settlement date: | May 13
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management handling distribution
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Fees: | 3%
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Cusip: | 40438J775
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