By Marisa Wong
Morgantown, W.Va., Aug. 29 – HSBC USA Inc. priced $3.36 million of 0% lookback trigger Performance Leveraged Upside Securities due Feb. 27, 2020 linked to the iShares China Large-Cap exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The initial share price will be equal to the lowest closing price of the ETF on any scheduled trading day during the period from and including the pricing date to and including Sept. 21.
If the final share price is greater than the initial price, the payout at maturity will be par of $10 plus 150% of the gain, subject to a maximum payout of $11.80 per PLUS.
If the final price is less than or equal to the initial price but greater than or equal to the trigger price, 75% of the initial price, the payout will be par.
If the final price is less than the trigger price, investors will be fully exposed to the decline.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management handling distribution.
| Issuer: | HSBC USA Inc.
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| Issue: | Lookback trigger Performance Leveraged Upside Securities
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| Underlying ETF: | iShares China Large-Cap ETF
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| Amount: | $3.36 million
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| Maturity: | Feb. 27, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the final share price is greater than the initial price, par plus 150% of the gain, subject to a maximum payout of $11.80 per PLUS; if the final price is less than or equal to the initial price but greater than or equal to 75% of the initial price, par; otherwise, investors will be fully exposed to the decline
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| Initial price: | Lowest closing price of the ETF on any scheduled trading day during the period from and including the pricing date to and including Sept. 21
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 27
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| Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management handling distribution
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| Fees: | 2%
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| Cusip: | 40435X546
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