New Issue: HSBC prices $1.06 million barrier capped market participation notes on Dow, Russell

By Taylor Fox

New York, Dec. 17 – HSBC USA Inc. priced $1.06 million of 0% barrier capped market participation securities due Dec. 18, 2023 tied to the Dow Jones industrial average and the Russell 2000 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 2 times the return of the lesser performing index, capped at par plus 17.04%.

Investors will receive par either index falls by up to 40%.

Otherwise, investors will be fully exposed to the lesser performing index’s decline from its initial level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier capped market participation securities
Underlying indexes:	Dow Jones industrial average and Russell 2000 index
Amount:	$1,061,000
Maturity:	Dec. 18, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is positive, par plus 2 times the return of the lesser performing index, capped at par plus 17.04%; par either index falls by up to 40%; otherwise, full exposure to the lesser performing index’s decline from its initial level
Initial levels:	30,199.31 for Dow, 1,959.763 for Russell
Barrier levels:	60% of initial levels
Pricing date:	Dec. 15
Settlement date:	Dec. 18
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40438CJ85

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