New Issue: HSBC prices $9.78 million leveraged buffered capped notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, May 12 – HSBC USA Inc. priced $9.78 million of 0% leveraged buffered capped notes due Sept. 12, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 1.5 times the index return, capped at $1,288.75 per $1,000 note. Investors will receive par if the index declines by 15% or less and will lose 1.1765% for every 1% that it declines beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Leveraged buffered capped notes
Underlying index:	S&P 500
Amount:	$9,782,000
Maturity:	Sept. 12, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 1.5 times index return, capped at $1,288.75 per $1,000 note; par if index declines by 15% or less; 1.1765% loss for every 1% that index declines beyond 15%
Initial level:	2,929.8
Buffer level:	85% of initial level
Pricing date:	May 8
Settlement date:	May 15
Underwriter:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40438CHD6

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