By Susanna Moon
Chicago, April 29 – HSBC USA Inc. priced $524,350 of 0% trigger gears notes due April 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par plus the upside gearing of 1.69 times the gain.
If the index falls but finishes at or above the 75% trigger level, the payout will be par.
If the index falls by more than 25%, investors will be fully exposed to any losses.
HSBC USA Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Trigger gears notes
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| Underlying index: | S&P 500
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| Amount: | $524,350
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| Maturity: | April 30, 2021
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.69 times any index gain; par if index declines by 25% or less; full exposure to loss if index falls below trigger
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| Initial index level: | 2,091.70
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| Trigger level: | 1,568.78, 75% of initial level
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| Pricing date: | April 26
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| Settlement date: | April 29
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40434N465
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