By Marisa Wong
Morgantown, W.Va., June 29 – HSBC USA Inc. priced $1 million of 0% leveraged buffered uncapped market participation securities due June 30, 2021 tied to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is positive, the payout at maturity will be par plus 115% of the fund return. Investors will receive par if the fund falls by up to 15% and lose 1% for every 1% decline in the fund beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged buffered uncapped market participation securities
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Underlying ETF: | PowerShares S&P 500 Low Volatility Portfolio ETF
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Amount: | $1 million
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Maturity: | June 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If fund return is positive, par plus 115% of the fund return; par if fund falls by up to 15%; 1% loss for every 1% decline in fund beyond 15%
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Initial price: | $40.93
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Pricing date: | June 27
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Settlement date: | June 30
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3.75%
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Cusip: | 40433UNQ5
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