New Issue: HSBC sells $5.13 million five-year trigger gears linked to S&P 500

By Marisa Wong

Los Angeles, Aug. 19 – HSBC USA Inc. priced $5,133,930 of 0% trigger gears due Aug. 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.125 times any index gain.

If the index falls by up to 25%, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Trigger gears
Underlying index:	S&P 500 index
Amount:	$5,133,930
Maturity:	Aug. 18, 2025
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.125 times any index gain; if index falls by up to 25%, par; otherwise, 1% loss for each 1% decline below initial level
Initial level:	3,373.43
Downside threshold:	2,530.0725, 75% of initial level
Pricing date:	Aug. 13
Settlement date:	Aug. 18
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	3.5%
Cusip:	40438J312

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