New Issue: HSBC prices $4.2 million callable contingent income barrier notes with memory on S&P

New York, Feb. 22 – HSBC USA Inc. priced $4.2 million of callable contingent income barrier notes with memory coupon due Feb. 20, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7.16%, paid monthly, if the underlying index closes at or above its 70% barrier level on the related monthly observation date, plus any previously unpaid coupons.

The securities may be called at par on any monthly observation date starting on Feb. 20, 2025.

The payout at maturity will be par if the index ends at or above its 70% barrier value. Otherwise, investors will lose 1% for every 1% that the index declines.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable contingent income barrier notes with memory coupon
Underlying index:	S&P 500 index
Amount:	$4,204,000
Maturity:	Feb. 20, 2026
Coupon:	7.16%, paid monthly, if the underlying index closes at or above its 70% barrier level on the related monthly observation date, plus any previously unpaid coupons
Price:	Par
Payout at maturity:	If index finishes at or above the barrier level, par; otherwise, 1% loss for every 1% that index declines from initial level
Call option:	At par on any monthly observation date starting on Feb. 20, 2025
Initial level:	5,000.62
Coupon barrier:	3,500.434, 70% of initial level
Barrier level:	3,500.434, 70% of initial level
Pricing date:	Feb. 14
Settlement date:	Feb. 20
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40447AB29

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