New Issue: HSBC sells $75,650 trigger performance notes on Vanguard FTSE EM fund

By Devika Patel

Knoxville, Tenn., Jan. 28 – HSBC USA Inc. priced $75,650 of 0% trigger performance securities due Jan. 29, 2021 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 162% of any fund gain.

If the fund declines by up to 25%, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

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

Issuer:	HSBC USA Inc.
Issue:	Trigger performance securities
Underlying ETF:	Vanguard FTSE Emerging Markets
Amount:	$75,650
Maturity:	Jan. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 162% of fund gain; if fund declines by up to 25%, par; otherwise, full exposure to any declines
Initial price:	$29.50
Trigger price:	$22.13, 75% of initial level
Pricing date:	Jan. 26
Settlement date:	Jan. 29
Agent:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	0.5%
Cusip:	40434K180

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