By Wendy Van Sickle
Columbus, Ohio, April 8 – HSBC USA Inc. priced $710,000 of buffered Accelerated Market Participation Securities due April 3, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed coupon of 10% at maturity.
The payout at maturity will be par plus double any index gain, up to a maximum return of 25.5%.
Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered Accelerated Market Participation Securities with fixed coupon
|
| Underlying index: | S&P 500 index
|
| Amount: | $710,000
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| Maturity: | April 3, 2024
|
| Coupon: | 10%, payable only at maturity
|
| Price: | Par
|
| Payout at maturity: | Par plus 200% of any index gain, capped at 25.5%; par if index falls by up to 20%; 1% loss for each 1% decline beyond 20%
|
| Initial level: | 2,805.37
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0%
|
| Cusip: | 40435UJU9
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