New Issue: HSBC prices $18.36 million capped Leveraged Index Return Notes on Vanguard ETF

By William Gullotti

Buffalo, N.Y., Aug. 30 – HSBC USA Inc. priced $18.36 million of 0% capped Leveraged Index Return Notes due Aug. 30, 2024 linked to the Vanguard Total World Stock ETF, according to a 424B2 filed with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par of $10 plus 200% of the return, subject to a maximum payout of par plus 26.48%.

Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

BofA Securities, Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Capped Leveraged Index Return Notes
Underlying fund:	Vanguard Total World Stock ETF
Amount:	$18,357,330
Maturity:	Aug. 30, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any ETF gain, capped at par plus 26.48%; par if ETF declines by 10% or less; otherwise, 1% loss for every 1% that ETF declines beyond 10%
Initial level:	$92.30
Threshold level:	$83.07; 90% of initial level
Pricing date:	Aug. 25
Settlement date:	Sept. 1
Agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	40439N551

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