Chicago, Feb. 12 – HSBC USA Inc. priced $728,000 of 0% dual directional buffered notes due Feb. 28, 2025 linked to the least performing of the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains the payout will be par plus the worst performing index return subject to a maximum return of par plus 29.5%.
The payout will be par plus the absolute value of the worst performing index return if the worst performing index declines but by no more than the 10% buffer.
Investors will lose 1% for every 1% that the worst performing 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 indexes: | S&P 500 index and Russell 2000 index
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Amount: | $728,000
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Maturity: | Feb. 28, 2025
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If worst performing index gains par plus worst performing index return subject to a maximum return of par plus 29.5%; par plus absolute value of worst performing index return if worst performing index declines but finishes above threshold value; 1% loss for every 1% that worst performing index declines beyond threshold value
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Call: | Non-callable
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Initial levels: | 1,754.605 for Russell, 4,151.28 for S&P
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Buffer levels: | 90% of initial levels
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Upside leverage: | 100%
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Cap: | 29.5%
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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: | 1.5%
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Cusip: | 40441X6S4
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