By Angela McDaniels
Tacoma, Wash., May 30 - HSBC USA Inc. priced $1.1 million of 0% buffered market participation securities due Dec. 2, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is greater than zero, the payout at maturity will be par plus the ETF return, subject to a maximum return of 27%. Investors will receive par if the ETF falls by 10% or less and will lose 1% for every 1% that the ETF declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered market participation securities
|
| Underlying ETF: | iShares MSCI Emerging Markets ETF
|
| Amount: | $1.1 million
|
| Maturity date: | Dec. 2, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any ETF gain, subject to maximum return of 27%; par if ETF falls by up to 10%; 1% loss for every 1% that ETF declines beyond 10%
|
| Initial share price: | $43.02
|
| Pricing date: | May 28
|
| Settlement date: | May 30
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 2.5%
|
| Cusip: | 40433BBN7
|
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