New Issue: HSBC sells $1.93 million buffered coupon notes linked to S&P 500

By Kiku Steinfeld

Chicago, Dec. 7 – HSBC USA Inc. priced $1.93 million of 0% buffered coupon notes due May 27, 2022 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 9%.

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 agent, with JPMorgan Chase Bank, N.A. and J.P. Morgan Securities LLC acting as placement agents.

Issuer:	HSBC USA Inc.
Issue:	Buffered coupon notes
Underlying index:	S&P 500
Amount:	$1,934,000
Maturity:	May 27, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the index finishes at or above 90% of its initial level, par plus 9%; otherwise, 1.1111% loss for every 1% decline beyond 10%
Initial index level:	3,635.41
Final level:	Average of index closing levels on each of the five trading dates ending May 24, 2022
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	HSBC Securities (USA) Inc. with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
Fees:	1.25%
Cusip:	40438CB83

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