By Kiku Steinfeld
Chicago, Feb. 23 – HSBC USA Inc. priced $824,000 of 0% dual directional buffered notes due June 29, 2026 linked to 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 101.75% of the worst performing index return.
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 20% 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.
|
| Issue: | Dual directional buffered notes
|
| Underlying indexes: | S&P 500 index and Russell 2000 index
|
| Amount: | $824,000
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| Maturity: | June 29, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst performing index gains par plus 101.75% of worst performing index return; par plus absolute value of worst performing index return if worst performing index declines but finishes above buffer value; 1% loss for every 1% that worst performing index declines beyond buffer
|
| Upside leverage: | 101.75%
|
| Cap: | None
|
| Buffer levels: | 80% of initial levels
|
| Initial levels: | 1,821.635 for Russell 2000, 4,348.33 for S&P 500
|
| Call: | Non-callable
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| Pricing date: | June 23, 2023
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| Settlement date: | June 28, 2023
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40447ACV4
|
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