New Issue: HSBC sells $2.93 million buffered coupon notes linked to S&P 500

By Marisa Wong

Los Angeles, July 13 – HSBC USA Inc. priced $2,927,000 of 0% buffered coupon notes due Dec. 29, 2021 linked 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 will be par plus 12.3%.

If the index finishes below 90% of its initial level, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered coupon notes
Underlying index:	S&P 500 index
Amount:	$2,927,000
Maturity:	Dec. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above 90% of its initial level, par plus 12.3%; otherwise, 1.1111% loss for every 1% decline beyond 10%
Initial index level:	3,083.76
Pricing date:	June 25
Settlement date:	June 30
Underwriter:	HSBC Securities (USA) Inc.
Fees:	1.25%
Cusip:	40438CLU3

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