New Issue: HSBC sells $1.17 million buffered uncapped market participation securities on index, ETF

By William Gullotti

Buffalo, N.Y., Nov. 16 – HSBC USA Inc. priced $1.17 million of 0% buffered uncapped market participation securities due Nov. 17, 2025 tied to the least performing of the Euro Stoxx 50 index and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the least-performing underlier finishes positive, the payout at maturity will be par plus 1.95 times the gain of that underlier.

Investors will receive par if the worst performer falls by up to 5% and will lose 1% for every 1% decline in the worst performer beyond 5%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying assets:	Euro Stoxx 50 index and iShares MSCI EAFE ETF
Amount:	$1,171,000
Maturity:	Nov. 17, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If least-performing underlier finishes positive, par plus 1.95 times that underlier’s return; par if worst performer falls by up to buffer; otherwise, 1% loss for every 1% decline in worst performer beyond 5%
Initial index levels:	$69.28 for ETF, 4,232.19 for index
Buffer levels:	95% of initial levels
Pricing date:	Nov. 13
Settlement date:	Nov. 16
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40447ASD7

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