New York, May 17 – HSBC USA Inc. priced $1.5 million of 0% buffered market participation securities due Aug. 19, 2019 linked to the Financial Select Sector SPDR exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any ETF gain, up to a cap of par plus 11.5%.
Investors will receive par if the ETF falls by up to 10% and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Buffered market participation securities
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| Underlying ETF: | Financial Select Sector SPDR
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| Amount: | $1.5 million
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| Maturity: | Aug. 19, 2019
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus index gain, capped at 11.5%; par if index falls by up to 10%, otherwise 1% loss for each 1% decline beyond 10%
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| Initial level: | $28.19
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| Pricing date: | May 15
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| Settlement date: | May 18
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1.275%
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| Cusip: | 40435FZV2
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