By Wendy Van Sickle
Columbus, Ohio, May 9 – HSBC USA Inc. priced $10 million of 0% leveraged contingent buffered enhanced notes due Feb. 5, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the stock finishes at or above its initial share price, the payout at maturity will be par plus any positive stock return, subject to a maximum return of par plus 23.3%.
if the stock declines by up to 7%, the payout will be par.
If the stock declines below the buffer, investors will lose 1.0753% for each 1% stock decline beyond 7%.
HSBC Securities (USA) Inc. is the underwriter, and JPMorgan Chase Bank NA and J.P. Morgan Securities LLC are the agents.
| Issuer: | HSBC USA Inc.
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| Issue: | Leveraged contingent buffered enhanced notes
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| Underlying stock: | Microsoft Corp.
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| Amount: | $10 million
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| Maturity: | Feb. 5, 2024
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the final share price is greater than or equal to initial level, par plus any positive stock return, subject to a maximum return of par plus 23.3%; if stock falls by up to 7%, par; otherwise, 1.0753% loss for every 1% that stock declines beyond 7%
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| Initial share price: | $307.26
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| Trigger price: | $285.7518, 93% of initial price
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agents: | JPMorgan Chase Bank NA and J.P. Morgan Securities LLC
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| Fees: | 0.75%
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| Cusip: | 40428HWL2
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