New Issue: HSBC prices $1.85 million buffered uncapped market participation notes on S&P 500

By Susanna Moon

Chicago, Dec. 28 – HSBC USA Inc. priced $2.27 million of 0% buffered uncapped market participation securities due Jan. 3, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 25% and will lose 1% for each 1% decline beyond the buffer.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying index:	S&P 500
Amount:	$2,271,000
Maturity:	Jan. 3, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index falls by up to 25%; 1% loss per 1% drop beyond 25%
Initial level:	2,263.79
Pricing date:	Dec. 23
Settlement date:	Dec. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40433UA89

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