By Marisa Wong
Morgantown, W.Va., June 28 – HSBC USA Inc. priced $4.7 million of 0% trigger gears due June 27, 2022 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 1.245 times the index return.
Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger gears
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Underlying index: | Russell 2000 index
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Amount: | $4.7 million
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Maturity: | June 27, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.245 times any index gain; par if the index declines by 25% or less; full exposure to the index’s decline from its initial level if it declines by more than 25%
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Initial level: | 1,404.538
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Downside threshold: | 1,053.404, 75% of initial level
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Pricing date: | June 22
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Trade date: | June 23
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Settlement date: | June 27
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Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
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Fees: | 3.5%
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Cusip: | 40435D110
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