New Issue: HSBC prices $13.75 million 7.5% trigger callable yield notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 1 – HSBC USA Inc. priced $13.75 million of 7.5% trigger callable yield notes due Feb. 28, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The notes are callable at par on any coupon payment date after three months.

The payout at maturity will be par of $10 unless the index finishes below its 60% trigger level, in which case investors will be fully exposed the index’s decline from initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Trigger callable yield notes
Underlying index:	S&P 500 index
Amount:	$13,747,900
Maturity:	Feb. 28, 2024
Coupon:	7.5%, payable monthly
Price:	Par of $10
Payout at maturity:	If the index finishes at or above trigger level, par; otherwise, full exposure to decline from initial level
Call option:	At par on any coupon payment date after three months
Initial level:	4,027.26
Trigger level:	2,416.36; 60% of initial level
Pricing date:	Nov. 23
Settlement date:	Nov. 29
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40441B637

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