By Wendy Van Sickle
Columbus, Ohio, July 28 – HSBC USA Inc. priced $5.32 million of 0% trigger gears due July 31, 2026 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 1.77 times the gain.
If the index falls but finishes at or above the 50% downside threshold level, the payout will be par.
If the index falls by more than 50%, investors will be fully exposed to any losses.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying index: | S&P 500
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Amount: | $5,322,900
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Maturity: | July 31, 2026
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.77 times any index gain; par if index declines by 50% or less; full exposure to loss if index falls beyond 50%
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Initial index level: | 2,169.18
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Downside threshold: | 1,084.59, 50% of initial level
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Pricing date: | July 26
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Settlement date: | July 29
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 5%
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Cusip: | 40434V517
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