By Marisa Wong
Morgantown, W.Va., Aug. 31 – HSBC USA Inc. priced $1.35 million of 0% market plus notes due Aug. 31, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 65% knockout level, the payout at maturity will be par plus the greater of 127% of any index gain and zero.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC is the placement agent.
Issuer: | HSBC USA Inc.
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Issue: | Market plus notes
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Underlying index: | S&P 500
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Amount: | $1.35 million
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Maturity: | Aug. 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above the 65% knockout level, par plus the greater of 127% of any index gain and zero; otherwise, full exposure to any losses
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Initial level: | 1,940.51
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Knock-out buffer: | 35%
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
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Fees: | 3%
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Cusip: | 40433B7M4
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