New Issue: HSBC prices $1.06 million barrier enhanced participation notes linked to Russia ETF

By Wendy Van Sickle

Columbus, Ohio, Jan. 6 – HSBC USA Inc. priced $1.06 million of 0% barrier enhanced participation notes due Jan. 11, 2021 linked to the VanEck Vectors Russia exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is greater than zero, the payout at maturity will be par plus 114% of the ETF return. If the ETF finishes flat or falls by up to 30%, the payout will be par. Otherwise, investors will be fully exposed to the ETF decline.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier enhanced participation notes
Underlying fund:	VanEck Vectors Russia ETF
Amount:	$1,059,000
Maturity:	Jan. 11, 2021
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Par plus 1.14 times any fund gain; par if fund falls by up to 30%; full exposure to loss if fund falls by more than 30%
Initial level:	$21.76
Pricing date:	Jan. 4
Settlement date:	Jan. 9
Agent:	HSBC Securities (USA) Inc.
Fees:	0.85%
Cusip:	40433UK39

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