By Marisa Wong
Los Angeles, March 29 – HSBC USA Inc. priced $1.09 million of 0% buffered accelerated market participation securities due Aug. 28, 2023 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, capped at par plus 17%.
Investors will receive par if the ETF falls by 10% or less and will lose 1% for every 1% decline beyond the 10% buffer.
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: | $1,089,000
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Maturity: | Aug. 28, 2023
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any ETF gain, capped at par plus 17%; par if ETF declines by 10% or less; 1% loss for every 1% ETF decline beyond 10% buffer
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Initial price: | $56.09
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Pricing date: | Feb. 23
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Settlement date: | Feb. 26
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40438CT84
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