By Wendy Van Sickle
Columbus, Ohio, May 24 – HSBC USA Inc. priced $607,000 of 0% trigger Performance Leveraged Upside Securities due May 23, 2019 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any fund gain, up to a maximum return of 51%.
Investors will receive par if the fund falls by up to 15% and will be fully exposed to any losses if the fund finishes below the 85% trigger level.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC handling distribution.
Issuer: | HSBC USA Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $607,000
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Maturity: | May 23, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus double any fund gain, up to a maximum return of 51%; par if fund falls by up to 15%; full exposure to any losses if fund finishes below trigger
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Initial share price: | $32.21
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Trigger level: | $27.38, 85% of initial level
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Pricing date: | May 20
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Settlement date: | May 25
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Agent: | HSBC Securities (USA) Inc.
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Distributor: | Morgan Stanley Smith Barney LLC
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Fees: | 3%
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Cusip: | 40434V707
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