New Issue: HSBC sells $3.07 million digital index-linked notes on S&P 500

By Kiku Steinfeld

Chicago, April 27 – HSBC USA Inc. priced $3.07 million of 0% digital index-linked notes due Aug. 18, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 90% of its initial level, the payout at maturity will be par plus 15.93%.

Otherwise, investors will lose 1.1111% for each 1% decline of the index beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital index-linked notes
Underlying index:	S&P 500
Amount:	$3,066,000
Maturity:	Aug. 18, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index gains or if it falls by up to 10%, par plus 15.93%; otherwise, 1.1111% loss for each 1% decline of the index beyond 10%
Initial level:	2,799.31
Downside threshold:	90% of initial level
Pricing date:	April 22
Settlement date:	April 29
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40438CFB2

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