By Taylor Fox
New York, Sept. 16 – HSBC USA Inc. priced $1.31 million of 0% dual directional buffered notes due March 3, 2025 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus the gain of the least performing index.
If any index falls but the least performer declines by no more than the 15% buffer amount, then the payout at maturity will be par plus the absolute value of the return of the least performing index.
If the least performing index declines by more than 15%, then the payout will be par less the loss of that index beyond the 15% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional buffered notes
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Underlying indexes: | S&P 500 index and the Russell 2000 index
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Amount: | $1,310,000
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Maturity: | March 3, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus any gain of the least performing index; if any index falls but the least performer declines by no more than the buffer amount, par plus the absolute value of the return of the least performing index; if the least performing index declines by more than buffer level, par less the loss of that index beyond the buffer
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Initial values: | 3,811.15 for S&P and 2,201.051 for Russell
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Buffer levels: | 85% of initial levels
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Pricing date: | Feb. 26
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Settlement date: | March 3
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40438CY70
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