By Marisa Wong
Los Angeles, June 21 – HSBC USA Inc. priced $2.64 million of 0% buffered accelerated market participation securities due Oct. 2, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at par plus 15.5%.
Investors will receive par if the index 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 index: | S&P 500 index
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Amount: | $2,641,000
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Maturity: | Oct. 2, 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 index gain, capped at par plus 15.5%; par if index declines by 10% or less; 1% loss for every 1% index decline beyond 10% buffer
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40438CZ87
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