By Susanna Moon
Chicago, Sept. 27 – HSBC USA Inc. priced $5 million of 0% dual directional trigger jump securities due Sept. 27, 2022 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the greater of the index return and the digital return of 32.4%.
If the index falls by up to the 80% trigger level, the payout will be par plus the absolute value of the index return.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional trigger jump securities
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| Underlying index: | S&P 500
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| Amount: | $5 million
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| Maturity: | Sept. 27, 2022
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index gains, par plus greater of return and 32.4%; if index falls by up to 20%, par plus absolute return; otherwise, 1% loss for each 1% decline
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| Initial index level: | 2,502.22
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| Trigger level: | 2,001.78, 80% of initial level
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| Pricing date: | Sept. 22
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| Settlement date: | Sept. 27
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| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
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| Fees: | 2.5%
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| Cusip: | 40435G196
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