By Tali Rackner
Norfolk, Va., Nov. 12 – HSBC USA Inc. priced $662,150 of 0% buffered jump securities due May 3, 2018 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus the 23.1% upside payment.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Buffered jump securities
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $662,150
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Maturity: | May 3, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final share price is greater than or equal to initial share price, par plus 23.1%; if final share price is less than initial share price; otherwise full exposure to decline
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Initial share price: | $34.87
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Buffer price: | $31.38, 90% of the initial price
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Pricing date: | Oct. 30
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Settlement date: | Nov. 4
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 1.75%
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Cusip: | 40434K669
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