By Marisa Wong
Morgantown, W.Va., Nov. 28 – HSBC USA Inc. priced $245,000 of 0% leveraged buffered uncapped market participation securities due Nov. 30, 2021 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.28 times any fund gain.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond the 15% buffer.
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: | $245,000
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Maturity: | Nov. 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 1.28 times any fund gain; par if fund falls by up to 15%; 1% loss for every 1% decline beyond 15%
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Initial price: | $40.54
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Pricing date: | Nov. 21
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Settlement date: | Nov. 25
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Underwriters: | HSBC Securities (USA) Inc.
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Fees: | 3.125%
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Cusip: | 40433UYR1
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