New Issue: HSBC prices $1.2 million growth notes linked to iShares MSCI EM fund

By Jennifer Chiou

New York, Dec. 24 - HSBC USA Inc. priced $1,197,000 of 0% growth securities due Dec. 30, 2019 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 115% of any increase in the exchange-traded fund's share price. Investors will receive par if the share price declines by 25% or less and will share fully in losses if the fund declines beyond 25%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Growth securities
Underlying ETF:	iShares MSCI Emerging Markets index fund
Amount:	$1,197,000
Maturity:	Dec. 30, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 115% of any ETF increase; par if ETF declines by 25% or less; otherwise, full exposure to losses
Initial share price:	$40.44
Pricing date:	Dec. 20
Settlement date:	Dec. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40432XPQ8

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