New Issue: HSBC prices $946,000 barrier enhanced participation notes on Dow, Nasdaq, S&P

By Wendy Van Sickle

Columbus, Ohio, May 20 – HSBC USA Inc. priced $946,000 of 0% barrier enhanced participation notes due May 20, 2025 linked to the least performing of the S&P 500 index, the Dow Jones industrial average and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the return of each index is positive, the payout at maturity will be par plus 185% of the least-performing index’s return. If the return of the least-performing index is less than or equal to zero but greater than or equal to negative 30%, the payout will be par. If the return of either index is less than negative 30%, investors will lose 1% for every 1% that the least-performing index declines from its initial level.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Barrier enhanced participation notes
Underlying indexes:	Dow Jones industrial average, S&P 500 index and Nasdaq-100 index
Amount:	$946,000
Maturity:	May 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is positive, par plus 185% of least-performing index’s return; if return of least-performing index is less than or equal to zero but greater than or equal to negative 30%, par; if return of either index is less than negative 30%, 1% loss for every 1% that least-performing index declines from initial level
Initial levels:	23,685.42 for Dow, 9,152.639 for Nasdaq and 2,863.7 for S&P
Barrier levels:	70% of initial levels
Pricing date:	May 15
Settlement date:	May 20
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.75%
Cusip:	40435CGC9

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