By Marisa Wong
Morgantown, W.Va., March 14 – HSBC USA Inc. priced $1.4 million of 0% barrier Accelerated Market Participation Securities due Sept. 14, 2020 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.5 times any ETF gain, up to a maximum return of 34.35%.
Investors will receive par if the ETF falls by up to 25% and will lose 1% for every 1% decline below the initial price if the ETF falls by more than 25%.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Barrier Accelerated Market Participation Securities
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $1.4 million
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Maturity: | Sept. 14, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any ETF gain, up to 34.35% cap; par if ETF declines by 25% or less; otherwise, 1% loss per 1% drop below initial price
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Initial price: | $48.70
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Pricing date: | March 7
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Settlement date: | March 12
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2%
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Cusip: | 40435FWE3
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