By Devika Patel
Knoxville, Tenn., Nov. 10 – HSBC USA Inc. priced $3.4 million of 0% barrier enhanced participation notes due Nov. 15, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund return is greater than zero, the payout at maturity will be par plus 1.52 times the return.
Investors will receive par if the fund falls by up to 35% and will receive a number of shares of the fund equal to the principal divided by the initial price or, at the company’s option, the cash equivalent if the fund falls by more than 35%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Barrier enhanced participation notes
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| Underlying fund: | SPDR S&P 500 ETF trust
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| Amount: | $3.4 million
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| Maturity: | Nov. 15, 2021
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| Coupon: | 0%
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| Price: | Par of $1,000
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| Payout at maturity: | Par plus 1.52 times any fund gain; par if fund falls by up to 35%; a number of shares of the worst performing stock equal to the principal divided by the initial share price or the cash equivalent if fund falls by more than 35%
|
| Initial level: | $214.11
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| Pricing date: | Nov. 8
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| Settlement date: | Nov. 14
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 2.25%
|
| Cusip: | 40433UZX7
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