By Kiku Steinfeld
Chicago, Nov. 27 – HSBC USA Inc. priced $292,000 of 0% buffered uncapped market participation securities with call feature due April 21, 2025 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 9.6% if the index closes at or above 100% of its initial level on April 17, 2024.
If the notes are not called, the payout at maturity will be par plus 2.5 times any gain of the index.
If the index drops by no more than 20% of its initial level, investors will receive par.
Otherwise, investors will lose 1.25% for each 1% drop beyond 20%.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Buffered uncapped market participation securities with call feature
|
| Underlying index: | S&P 500 index
|
| Amount: | $292,000
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| Maturity: | April 21, 2025
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 2.5 times any index gain; par if index falls but not below buffer level; otherwise 1.25% loss for each 1% drop beyond 20%
|
| Call: | At par plus 9.6% if the index closes at or above 100% of its initial level on April 17, 2024
|
| Initial level: | 4,146.22
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| Buffer level: | 80% of initial levels
|
| Pricing date: | April 13, 2023
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| Settlement date: | April 18, 2023
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 2.85%
|
| Cusip: | 40441X4U1
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