By Emma Trincal
New York, Dec. 22 – HSBC USA Inc. priced $325,000 of 0% leveraged contingent buffered enhanced notes due Jan. 5, 2022 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% of any gain in the ETF subject to a maximum return of par plus 20.25%.
If the fund falls by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline of the fund below its initial level.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA as agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Leveraged contingent buffered enhanced notes
|
| Underlying fund: | SPDR S&P Biotech ETF (Symbol: XBI)
|
| Amount: | $325,000
|
| Maturity: | Jan. 5, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% times any gain of the ETF, capped at par plus 20.25%; par if ETF falls by up to 20%; otherwise, full exposure to ETF share price decline
|
| Initial levels: | $147.55
|
| Knock out level: | 80% of initial level
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 23
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1%
|
| Cusip: | 40438CM24
|
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