New Issue: HSBC sells $1.74 million contingent buffered notes on S&P

By Taylor Fox

New York, Nov. 16 – HSBC USA Inc. priced $1.74 million of 0% contingent buffered notes due Nov. 10, 2021 linked to the S&P 500 index, 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, 80% of its initial level, the payout at maturity will be par plus 7.2%.

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

JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	HSBC USA Inc.
Issue:	Contingent buffered notes
Underlying index:	S&P 500 index
Amount:	$1,735,000
Maturity:	Nov. 10, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If the final stock level is greater or equal to 80% of its initial level, par plus 7.2%; otherwise, 1% loss for every 1% decline from initial level
Initial level:	3,465.39
Knock-in level:	80% of initial level
Pricing date:	Oct. 23
Settlement date:	Oct. 28
Placement agents:	JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	1%
Cusip:	40438CYX3

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