By Toni Weeks
San Luis Obispo, Calif., April 6 – HSBC USA Inc. priced $11.24 million of 0% dual directional trigger Performance Leveraged Upside Securities due April 6, 2021 linked to the S&P 500 index, according to a 424B1 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial index level, the payout at maturity will be par of $10 plus 114% of the index return.
If the final index level is less than the initial index level but greater than or equal to the trigger level, the payout will be par plus the absolute value of the index return. The trigger level will be 65% of the initial index level.
If the final index level is less than the trigger level, investors will be fully exposed to the decline from the initial index level.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional Trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $11,236,800
|
| Maturity: | April 6, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 114% of any index gain; if index falls by up 35%, par plus absolute value of return; otherwise, full exposure to any losses
|
| Initial level: | 2,067.89
|
| Trigger level: | 1,344.13, 65% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as dealer
|
| Fees: | 3%
|
| Cusip: | 40434F173
|
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