By William Gullotti
Buffalo, N.Y., March 3 – HSBC USA Inc. priced $14.29 million of 0% lookback trigger Performance Leveraged Upside Securities due March 5, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The initial index level will be equal to the lowest closing level of the index on any scheduled trading day during the period from and including the pricing date to and including April 28.
If the final index level is greater than the initial level, the payout at maturity will be par of $10 plus 150% of the gain, subject to a maximum payout of par plus 21.65%.
If the final level is less than or equal to the initial level but greater than or equal to the trigger price, 80% of the initial level, the payout will be par.
If the final level 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.
|
| Issue: | Lookback trigger Performance Leveraged Upside Securities
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| Underlying index: | S&P 500 index
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| Amount: | $14,292,820
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| Maturity: | March 5, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | If the final index level is greater than the initial level, par plus 150% of the gain, subject to a maximum payout of par plus 21.65%; if the final level is less than or equal to the initial level but greater than or equal to 80% of the initial level, par; otherwise, investors will be fully exposed to index decline from initial level
|
| Initial level: | Lowest closing level of the index on any scheduled trading day during the period from and including the pricing date to and including April 28
|
| Pricing date: | Feb. 28
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| Settlement date: | March 3
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| Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management handling distribution
|
| Fees: | 2.5%
|
| Cusip: | 40441B223
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