New Issue: HSBC prices $2.92 million trigger performance notes tied to S&P 500

By Jennifer Chiou

New York, Feb. 28 - HSBC USA Inc. priced $2,923,400 of 0% trigger performance securities due Feb. 28, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 225% of the index return.

Investors will receive par if the index falls by up to 50% and will be fully exposed to losses from the initial level if it falls more than 50%.

HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger performance securities
Underlying index:	S&P 500
Amount:	$2,923,400
Maturity:	Feb. 28, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 225% of index return; par if index falls by up to 50%; full exposure to losses if index falls more than 50%
Initial level:	1,365.74
Trigger level:	682.87, 50% of initial level
Pricing date:	Feb. 24
Settlement date:	Feb. 29
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	5%
Cusip:	40433K496

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