New Issue: HSBC sells $1.24 million barrier uncapped market participation notes on ETF, index

By William Gullotti

Buffalo, N.Y., July 7 – HSBC USA Inc. priced $1.24 million of 0% barrier uncapped market participation securities due July 6, 2026 tied to the least performing of the S&P 500 ESG index and the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of each underlier is positive, the payout at maturity will be par plus 1.8 times the return of the least-performing underlier.

Investors will receive par if any underlier falls by up to 30%.

Otherwise, investors will be fully exposed to the least-performing asset’s decline from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier uncapped market participation securities
Underlying assets:	S&P 500 ESG index, iShares Global Clean Energy ETF
Amount:	$1,242,000
Maturity:	July 6, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	If each underlier finishes above its initial level, par plus 1.8 times the increase of least-performing underlier; par if any underlier falls by up to 30%; otherwise, 1% loss for every 1% least-performing underlier declines from its initial level
Initial levels:	367.27 for S&P ESG, $23.46 for Energy ETF
Barrier levels:	70% of initial levels
Pricing date:	June 30
Settlement date:	July 6
Agent:	HSBC Securities (USA) Inc.
Fees:	0.75%
Cusip:	40439JCD5

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