Chicago, May 27 – HSBC USA Inc. priced $1.35 million of 0% barrier uncapped participation notes due May 26, 2023 linked to the least performing of the common stocks of Exxon Mobil Corp., Chevron Corp. and Valero Energy Corp., according to a 424B2 filing with the Securities and Exchange Commission.
If the return of each stock is positive, the payout at maturity will be par plus 400% of the least-performing stock’s return.
If the return of the least-performing stock is less than or equal to zero but greater than or equal to negative 28%, the payout will be par.
If the return of any stock is less than negative 28%, investors will lose 1% for every 1% that the least-performing stock declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Barrier uncapped participation notes
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| Underlying stocks: | Exxon Mobil Corp. (XOM), Chevron Corp. (CVX) and Valero Energy Corp. (VLO)
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| Amount: | $1.35 million
|
| Maturity: | May 26, 2023
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | If return of each stock is positive, par plus 400% of least-performing stock’s return; if return of least-performing stock is less than or equal to zero but greater than or equal to negative 28%, par; if return of worst stock is less than negative 28%, 1% loss for every 1% that least-performing stock declines from initial level
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| Initial levels: | $45.37 for Exxon, $93.00 for Chevron and $67.34 for Valero
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| Barrier levels: | 72% of initial levels
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| Pricing date: | May 20
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| Settlement date: | May 26
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | 0.25%
|
| Cusip: | 40438CJQ5
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