New Issue: HSBC prices $858,000 market participation securities linked to S&P 500

By Kiku Steinfeld

Chicago, April 1 – HSBC USA Inc. priced $858,000 of 0% market participation securities due Jan. 6, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus the index return, subject to a maximum return of 10.35%. If the index return is less than or equal to zero, the payout will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Market participation securities
Underlying index:	S&P 500
Amount:	$858,000
Maturity:	Jan. 6, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is greater than zero, par plus index return, subject to maximum return of 10.35%; if index return is less than or equal to zero, par
Initial level:	4,450.38
Pricing date:	June 30, 2023
Settlement date:	July 6, 2023
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40447ACB8

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