By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – HSBC USA Inc. priced $2 million of buffered notes with fixed semiannual coupons and bonus coupon due Feb. 1, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed semiannual coupon at a rate of 3% per year.
The notes will also pay a bonus coupon of 25% of par at maturity if the index return is at least 17%. If the index return is at least negative 15%, the payout at maturity will be par. If the index return is less than negative 15%, investors will lose 1.1765% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Buffered notes with fixed semiannual coupons and bonus coupon
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| Underlying index: | S&P 500
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| Amount: | $2 million
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| Maturity: | Feb. 1, 2021
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| Coupon: | 3%, payable semiannually
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| Price: | Par
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| Payout at maturity: | Par plus 25% bonus coupon if index return is at least 17%; if return is below 17% but above negative 15%, par; otherwise, 1.1765% loss for each 1% decline in index beyond 15%
|
| Initial level: | 2,294.69
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| Pricing date: | Jan. 27
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| Settlement date: | Feb. 1
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0%
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| Cusip: | 40433UM29
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