New Issue: HSBC sells $820,000 contingent buffered notes on Lennar

By Wendy Van Sickle

Columbus, Ohio, July 10 – HSBC USA Inc. priced $820,000 of 0% contingent buffered notes due July 20, 2021 linked to the common stock of Lennar Corp., according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the stock is greater than or equal to its knock-out buffer level, 70% of its initial level, the payout at maturity will be par plus 17.75%.

Otherwise, investors will lose 1% for every 1% that the stock declines from its initial level.

JPMorgan is the placement agent.

Issuer:	HSBC USA Inc.
Issue:	Contingent buffered notes
Underlying stock:	Lennar Corp.
Amount:	$820,000
Maturity:	July 20, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the final stock level is greater or equal to 70% of its initial level, $1,177.50 for each $1,000 of notes; otherwise, 1% loss for every 1% decline from initial level
Initial stock level:	$60.17
Final level:	Average of closing levels on five trading days ending July 15, 2021
Pricing date:	July 2
Settlement date:	July 8
Placement agent:	JPMorgan
Fees:	1%
Cusip:	40438CPT2

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