New Issue: HSBC prices $4.19 million trigger performance notes linked to S&P 500

By Jennifer Chiou

New York, Feb. 28 - HSBC USA Inc. priced $4,188,000 of 0% trigger performance securities due Feb. 28, 2023 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 197.37% 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:	$4,188,000
Maturity:	Feb. 28, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 197.37% of index return; par if index falls by up to 50%; full exposure to losses if index falls more than 50%
Initial level:	1,487.85
Trigger level:	743.93, 50% of initial level
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	5%
Cusip:	40433T323

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