New York, May 12 – HSBC USA Inc. priced $2 million of 0% market plus notes due May 16, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund gains or falls by no more than 28% the payout at maturity will be par plus the 125% of the return of the fund with a floor of par.
Otherwise, investors will be fully exposed to the decline in the fund from its initial level.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Market plus notes
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| Underlying fund: | iShares MSCI Emerging Markets ETF
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| Amount: | $2 million
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| Maturity: | May 16, 2022
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If the fund gains or falls by no more than 28%, par plus the 125% of the return of the fund with a floor of par; otherwise full exposure to loss
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| Initial level: | $40.96
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| Knock-out buffer: | 28% of initial level
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| Pricing date: | May 10
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| Settlement date: | May 15
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| Underwriter: | HSBC Securities (USA) Inc.
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| Agent: | J.P. Morgan Securities LLC
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| Fees: | 3%
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| Cusip: | 40433U5L6
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