New Issue: HSBC prices $7 million airbag performance notes linked to S&P/TSX 60

By Angela McDaniels

Tacoma, Wash., Sept. 19 – HSBC USA Inc. priced $7 million of 0% airbag performance securities due Sept. 23, 2024 linked to the S&P/TSX 60 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 plus 165% of the index return. If the index return is zero or negative but not less than negative 30%, the payout will be par. Otherwise, investors will lose 1.4285% for every 1% that the index declines beyond 30%.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

Issuer:	HSBC USA Inc.
Issue:	Airbag performance securities
Underlying index:	S&P/TSX 60
Amount:	$7 million
Maturity:	Sept. 23, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 165% of index return; if index return is zero or negative but not less than negative 30%, par; otherwise, 1.4285% loss for every 1% that index declines beyond 30%
Initial index level:	894.77
Pricing date:	Sept. 17
Settlement date:	Sept. 22
Underwriter:	HSBC Securities (USA) Inc.
Agent:	UBS Financial Services Inc.
Fees:	5%
Cusip:	40434D590

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