New Issue: HSBC prices $24.44 million Leveraged Index Return Notes linked to the Dow

By Toni Weeks

San Luis Obispo, Calif., April 27 – HSBC USA Inc. priced $24.44 million of 0% Leveraged Index Return Notes due April 24, 2020 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 108.5% of the index return. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that it declines beyond 20%.

The final index level will be the average of the closing index levels on the five trading days ending April 21, 2020.

BofA Merrill Lynch is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Leveraged Index Return Notes
Underlying index:	Dow Jones industrial average
Amount:	$24,437,700
Maturity:	April 24, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 108.5% of any index gain; par if index falls by up to 20% and exposure to any losses beyond 20%
Initial level:	18,058.69
Threshold level:	14,446.95, 80% of initial level
Pricing date:	April 23
Settlement date:	April 30
Agent:	BofA Merrill Lynch
Fees:	2.5%
Cusip:	40434G767

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