New Issue: HSBC sells $800,000 limited loss notes linked to S&P 500

By Kiku Steinfeld

Chicago, Sept. 21 – HSBC USA Inc. priced $800,000 of zero-coupon limited loss notes due March 13, 2025 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 plus 150% of any index gain, subject to a maximum return of 20%.

If the index falls, investors will be exposed to the first 5% loss of the index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	5% limited loss notes
Underlying index:	S&P 500 index
Amount:	$800,000
Maturity:	March 13, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, subject to a maximum return of 20%; investors will be exposed to the first 5% loss of the index
Initial value:	3,992.01
Pricing date:	March 8, 2023
Settlement date:	March 13, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40441XW22

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