By Wendy Van Sickle
Columbus, Ohio, April 5 – HSBC USA Inc. priced $4.54 million of 0% dual directional trigger jump securities due April 3, 2019 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above the initial price, the payout at maturity will be par of $10 plus the digital return of 60%.
If the fund falls but finishes at or above the 80% trigger level, the payout will be par plus the absolute value of the return.
If the fund falls by more than 20%, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is a distributor.
| Issuer: | HSBC USA Inc.
|
| Issue: | Dual directional trigger jump securities
|
| Underlying ETF: | SPDR S&P Oil & Gas Exploration & Production
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| Amount: | $4.54 million
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| Maturity: | April 3, 2019
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund gains, par plus greater of gain and 60%; par plus absolute value of fund return if fund falls by 20% or less; full exposure to any losses if fund finishes below downside threshold
|
| Initial price: | $30.35
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| Downside threshold: | $24.28, 80% of initial price
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| Pricing date: | March 31
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| Settlement date: | April 5
|
| Agent: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 40434N523
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