By Toni Weeks
San Diego, April 27 - HSBC USA Inc. priced $2.84 million of 0% trigger performance securities due April 29, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 2.202 times the index return.
If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 50% of the initial level, the payout will be par.
If the final index level is less than the trigger level, the payout will be par plus the index return, with full exposure to losses.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger performance securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,838,950
|
| Maturity: | April 29, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 220.2% of index return; par if index falls by up to 50%; otherwise, full exposure to losses
|
| Initial level: | 1,390.69
|
| Trigger level: | 695.35, 50% of initial level
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
|
| Fees: | 5%
|
| Cusip: | 40433K157
|
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