New Issue: HSBC prices $6.51 million trigger PLUS tied to KraneShares CSI China

By Sarah Lizee

Olympia, Wash., Feb. 20 – HSBC USA Inc. priced $6.51 million of 0% trigger Performance Leveraged Upside Securities due Feb. 17, 2023 linked to the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par of $10 plus 200% of the ETF return, capped at par plus 43%.

Investors will receive par if the ETF declines by 20% or less and will be fully exposed to the ETF’s decline from its initial share price if it falls by more than 20%.

HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.

Issuer:	HSBC USA Inc.
Issue:	Trigger Performance Leveraged Upside Securities
Underlying ETF:	KraneShares CSI China Internet ETF
Amount:	$6,514,300
Maturity:	Feb. 17, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final share price is greater than initial share price, par plus 200% of ETF return, capped at par plus 43%; if final share price is less than or equal to initial share price but greater than or equal to trigger price, par; if final share price is less than trigger price, exposure to decline from initial share price
Initial share price:	$52.23
Trigger level:	$41.78, 80% of initial share price
Pricing date:	Feb. 14
Settlement date:	Feb. 20
Agent:	HSBC Securities (USA) Inc.
Distribution:	Morgan Stanley Wealth Management
Fees:	3%
Cusip:	40438G300

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