By Jennifer Chiou
New York, March 5 - HSBC USA Inc. priced $5 million of 0% uncapped trigger Performance Leveraged Upside Securities due March 5, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par of $10 plus 126% of any gain.
If the index falls by up to the 65% trigger level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | HSBC USA Inc.
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Issue: | Uncapped trigger Performance Leveraged Upside Securities
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Underlying index: | Russell 2000
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Amount: | $5 million
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Maturity: | March 5, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index gains, par plus 126% of return; if index falls by up to 35%, par; otherwise, full exposure to any losses
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Initial level: | 1,183.03
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Trigger level: | 768.97, 65% of initial level
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Pricing date: | Feb. 28
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Settlement date: | March 5
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Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as dealer
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Fees: | 3.5%
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Cusip: | 40434C204
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