New Issue: HSBC prices $9.04 million capped buffer gears on S&P 500

By Wendy Van Sickle

Columbus, Ohio, Dec. 21 – HSBC USA Inc. priced $9.04 million of 0% capped buffer gears due Dec. 19, 2024 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 of $10 plus double any index gain, up to a maximum return of par plus 26.15%.

If the index declines up to 15%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline below 15%.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped buffer gears
Underlying index:	S&P 500 index
Amount:	$9,042,600
Maturity:	Dec. 19, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus two times any index gain, capped at par plus 26.15%; if the index declines up to 15%, par; otherwise, 1% loss per 1% decline below 15%
Initial level:	3,895.75
Buffer level:	3,311.39; 85% of initial level
Pricing date:	Dec. 15
Settlement date:	Dec. 20
Agents:	UBS Financial Services Inc. and HSBC USA Inc.
Fees:	2%
Cusip:	40441B561

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