By Jennifer Chiou
New York, Oct. 29 – HSBC USA Inc. priced $585,000 of 0% buffered accelerated return notes due Oct. 29, 2021 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 plus 137% of the index return. Investors will receive par if the index declines by 30% or less and will lose 1.4286% for every 1% that it declines beyond 30%.
HSBC said the estimated initial value of the securities, based on its internal funding rate, is $962.60 per $1,000 principal amount.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered accelerated return notes
|
| Underlying index: | S&P 500
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| Amount: | $585,000
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| Maturity: | Oct. 29, 2021
|
| Coupon: | 0%
|
| Price: | Par
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| Payout at maturity: | If index return is positive, par plus 137% of index return; par if index declines by 30% or less; 1.4286% loss for every 1% that index declines beyond 30%
|
| Initial index level: | 1,964.58
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 29
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40433BRB6
|
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