By Marisa Wong
Madison, Wis., May 4 – HSBC USA Inc. priced $1 million of 0% market plus notes due May 1, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index finishes below the initial level by more than the 30% knock-out buffer.
If a knock-out event has not occurred, the payout at maturity will be par plus the greater of the index return and zero. Otherwise, investors will have exposure to any losses.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the placement agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Market plus notes
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| Underlying index: | Russell 2000
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| Amount: | $1 million
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| Maturity: | May 1, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If index finishes at or above 70% of initial level, par plus greater of index return and zero; otherwise, exposure to losses
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| Initial index level: | 1,259.357
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| Pricing date: | April 28
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| Settlement date: | May 1
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| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 3%
|
| Cusip: | 40433BV54
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