By William Gullotti
Buffalo, N.Y., Feb. 22 – HSBC USA Inc. priced $2 million of 0% digital return notes due March 5, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above 75% of its initial level, the payout at maturity will be par plus 9.5%.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level.
HSBC Securities (USA) Inc. is the agent, with JPMorgan acting as placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Digital return notes
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Underlying index: | S&P 500 index
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Amount: | $2 million
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Maturity: | March 5, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the index gains or falls by not more than 25%, par plus 9.5%; otherwise, 1% loss for each 1% decline of the index from initial level
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Initial level: | 4,136.13
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Downside threshold: | 75% of initial level
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Strike date: | Feb. 14
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Pricing date: | Feb. 15
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Settlement date: | Feb. 21
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Agent: | HSBC Securities (USA) Inc. with JPMorgan as placement agent
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Fees: | 0.5%
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Cusip: | 40441XP95
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