New Issue: HSBC prices $1.3 million bear Accelerated Return Notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 13 – HSBC USA Inc. priced $1.3 million of 0% bear Accelerated Return Notes due Oct. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is negative, the payout at maturity will be par of $10 plus 3% for every 1% that the index declines, subject to a maximum return of 15%. If the index return is positive, investors will lose 1% for every 1% that the index increases.

BofA Merrill Lynch is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Bear Accelerated Return Notes
Underlying index:	S&P 500
Amount:	$1,297,500
Maturity:	Oct. 28, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is negative, par plus 3% for every 1% that index declines, subject to 15% maximum return; if index return is positive, 1% loss for every 1% that index increases
Initial index level:	4,405.8
Final index level:	Average of index’s closing levels on five trading days ending Oct. 25, 2022
Pricing date:	Aug. 19
Settlement date:	Aug. 27
Agent:	BofA Securities, Inc.
Fees:	1.75%
Cusip:	40439K557

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