New Issue: HSBC prices $4.67 million market-linked notes tied to iShares MSCI EM

By Marisa Wong

Morgantown, W.Va., Feb. 8 – HSBC USA Inc. priced $4.67 million of 0% market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside due Feb. 3, 2021 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any fund gain, up to a maximum return of 47%.

Investors will receive par if the fund falls by up to 15% and will be exposed to any losses beyond 15%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Market-linked securities – leveraged upside participation to a cap and fixed percentage buffered downside
Underlying ETF:	iShares MSCI Emerging Markets ETF
Amount:	$4,669,000
Maturity:	Feb. 3, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any fund gain, capped at 47%; par if fund falls by up to 15%; otherwise, 1% loss per 1% drop beyond 15%
Initial price:	$37.34
Pricing date:	Jan. 31
Settlement date:	Feb. 3
Agent:	HSBC Securities (USA) Inc.
Fees:	3.35%
Cusip:	40433UK70

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