New York, Oct. 6 – HSBC USA Inc. priced $1.93 million of 0% dual directional buffered notes due Nov. 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index gains the payout will be par plus 200% of the index return subject to a maximum return of par plus 11.4%.
The payout will be par plus the absolute value of the index return if the index declines but by no more than the 10% buffer.
Investors will lose 1% for every 1% that the index declines beyond the buffer.
The securities are non-callable.
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 index: | S&P 500 index
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Amount: | $1,931,000
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Maturity: | Nov. 4, 2024
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index gains par plus 200% of index return subject to a maximum return of par plus 11.4%; par plus absolute value of index return if index declines but finishes above buffer; 1% loss for every 1% that index declines beyond buffer
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Upside leverage: | 200%
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Cap: | 11.4%
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Buffer level: | 90% of initial level
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Initial level: | 4,288.05
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Call: | Non-callable
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Pricing date: | Sept. 29
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Settlement date: | Oct. 4
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5%
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Cusip: | 40447ALJ1
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