New Issue: HSBC sells $1.02 million trigger gears linked to S&P 500

By Marisa Wong

Morgantown, W.Va., Jan. 3 – HSBC USA Inc. priced $1.02 million of 0% trigger gears due Dec. 31, 2020 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 1.225 times any index gain.

If the index finishes falls by up to 20%, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Trigger gears
Underlying index:	S&P 500 index
Amount:	$1,016,940
Maturity:	Dec. 31, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.225 times any index gain; if index falls by up to 20%, par; otherwise, 1% for each 1% decline
Initial level:	2,680.50
Downside threshold:	2,144.40, 80% of initial level
Pricing date:	Dec. 26
Settlement date:	Dec. 29
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435J786

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