New Issue: HSBC prices $7.31 million seven-year trigger PLUS with cap tied to S&P

By Susanna Moon

Chicago, Feb. 14 – HSBC USA Inc. priced $7.31 million of 0% trigger Performance Leveraged Upside Securities due Feb. 5, 2025 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 4 times the return up to a maximum return of $17.50 per $10 PLUS.

If the index falls by up to its 65% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	HSBC USA Inc.
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$7,309,470
Maturity:	Feb. 5, 2025
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	Par plus 400% of any index gain, capped at 75%; if index falls by up to 35%, par; otherwise, 1% loss per 1% decline
Initial level:	2,823.81
Trigger level:	1,835.48, 65% of initial level
Pricing date:	Jan. 31
Settlement date:	Feb. 5
Agent:	HSBC Securities (USA) Inc.
Dealer:	Morgan Stanley Wealth Management
Fees:	3%
Cusip:	40435J448

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