New Issue: HSBC prices $7 million buffered market participation notes on Nasdaq, Dow

By Wendy Van Sickle

Columbus, Ohio, Aug. 4 – HSBC USA Inc. priced $7 million of 0% buffered Market Participation Securities with autocall feature due Feb. 2, 2026 tied to the lesser performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a 10% annualized call premium if each index closes at or above its initial level on July 26, 2024 or July 28, 2025.

The payout at maturity will be par plus any gain of the laggard index, capped at par plus 25%.

Investors will receive par if the laggard index falls by up to 25% and will lose 1% for each 1% decline of the laggard index beyond 25%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered Market Participation Securities with autocall feature
Underlying indexes:	Nasdaq-100 index, Dow Jones industrial average
Amount:	$7 million
Maturity:	Feb. 2, 2026
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any gain in the laggard index up to par plus 25%; par if laggard index falls by up to 25%; otherwise, 1% loss for each 1% decline of laggard index beyond 25%
Call:	Automatically a par plus a 10% annualized call premium if each index closes at or above its initial level on July 26, 2024 or July 28, 2025
Initial values:	15,464.93 for Nasdaq, 35,282.72 for Dow
Buffer level:	75% of initial value
Pricing date:	July 27
Settlement date:	Aug. 1
Agent:	HSBC Securities (USA) Inc.
Fees:	2.85%
Cusip:	40447AFT6

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