New Issue: HSBC prices $245,000 barrier capped market participation notes on Dow, Nasdaq

By Kiku Steinfeld

Chicago, Jan. 14 – HSBC USA Inc. priced $245,000 of 0% barrier capped market participation securities due Dec. 22, 2023 tied to 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 3 times the return of the lesser performing index, capped at par plus 29.35%.

Investors will receive par if either index falls by up to 20%.

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 Nasdaq-100 index
Amount:	$245,000
Maturity:	Dec. 22, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If return of each index is positive, par plus 3 times the return of the lesser performing index, capped at par plus 29.35%; par either index falls by up to 20%; otherwise, full exposure to the lesser performing index’s decline from its initial level
Initial levels:	35,365.44 for Dow, 15,801.46 for Nasdaq
Barrier levels:	80% of initial levels
Pricing date:	Dec. 17
Settlement date:	Dec. 22
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40439JTY1

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