By Sarah Lizee
Olympia, Wash., Aug. 17 – HSBC USA Inc. priced $859,000 of 0% one directional notes due Aug. 25, 2021 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
A knock-out event occurs if the final level of the index is less than the initial level by a percentage that is greater than the buffer amount, 75.16% of the initial level.
If a knock-out event has occurred, investors will lose 1.3305% for every 1% decline of the index beyond 24.84%.
If a knock-out event has not occurred and the final level is less than the initial level, the payout will be par plus the absolute value of the index return.
If the final level is greater than or equal to the initial level, the payout will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | One directional notes
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| Underlying index: | S&P 500
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| Amount: | $859,000
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| Maturity: | Aug. 25, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If a knock-out event has occurred, investors will lose 1.3305% for every 1% decline of the index beyond 24.84%; if a knock-out event has not occurred and the final level is less than the initial level, par plus the absolute value of the index return; if the final level is greater than or equal to the initial level, par
|
| Knock-out event: | Occurs if the final level of the index is less than the initial level by a percentage that is greater than the buffer amount
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| Initial index level: | 3,351.28
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| Buffer level: | 75.16% of initial level
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| Pricing date: | Aug. 7
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| Settlement date: | Aug. 12
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| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40438CTH4
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