By Wendy Van Sickle
Columbus, Ohio, April 18 – HSBC USA Inc. priced $3.5 million 0% trigger gears notes due April 19, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the upside gearing of 1.5 times the gain.
If the index falls but finishes at or above the 70% trigger level, the payout will be par.
If the index falls by more than 30%, investors will be fully exposed to any losses.
HSBC USA Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears notes
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Underlying index: | S&P 500
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Amount: | $3,502,000
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Maturity: | April 19, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.5 times any index gain; par if index declines by 30% or less; full exposure to loss if index falls beyond 30%
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Initial index level: | 2,082.78
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Pricing date: | April 14
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Settlement date: | April 19
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40434N374
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