Chicago, Feb. 12 – HSBC USA Inc. priced $598,000 of 0% lookback buffered AMPS due June 2, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The period to establish the initial value of the index runs from May 25, 2023 to July 25, 2023. The initial level will be the lowest closing level on any scheduled trading day during that period.
At maturity, if the final level is positive, investors will receive par plus 1.5 times the return, capped at par plus 15.8%.
Investors will receiver par if the index has declined, but finishes above 90% of its initial level.
Otherwise, investors will be exposed to losses on a one-to-one basis beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Lookback buffered AMPS
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Underlying index: | S&P 500 index
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Amount: | $598,000
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Maturity: | June 2, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If positive, par plus 1.5 times return capped at par plus 15.8%; if there is a decline but not more than 10%, par; otherwise, 1% loss for each 1% decline beyond 10% buffer
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Initial level: | Lowest closing level of the index on any scheduled trading day during the period from and including the pricing date to and including July 25, 2023
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Pricing date: | May 25, 2023
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Settlement date: | May 31, 2023
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.25%
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Cusip: | 40441X6R6
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