By Susanna Moon
Chicago, Sept. 27 – HSBC USA Inc. priced $6.05 million of 0% dual directional trigger jump securities due Sept. 27, 2022 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the fund return and the digital return of 31.5%.
If the fund falls by up to the 80% trigger level, the payout will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
Issuer: | HSBC USA Inc.
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Issue: | Dual directional trigger jump securities
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Underlying fund: | iShares MSCI Emerging Markets ETF
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Amount: | $6,051,000
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Maturity: | Sept. 27, 2022
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If fund gains, par plus greater of return and 31.5%; if fund falls by up to 20%, par plus absolute return; otherwise, 1% loss for each 1% decline
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Initial level: | $45.38
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Trigger level: | $36.304, 80% of initial level
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | HSBC Securities (USA) Inc.
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Distribution: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 40435G188
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