HSBC plans three-year barrier enhanced notes linked to two funds

By Susanna Moon

Chicago, March 22 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due April 5, 2021 linked to the least performing of the iShares MSCI EAFE exchange-traded fund and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If each underlying component finishes at or above its initial level, the payout at maturity will be par plus at least 1.6 times the gain of the worse performing fund.

Investors will receive par if either component falls by no more than 40% and will be fully exposed to any losses of the worse performing fund if it finishes below its 60% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on March 28.

The Cusip number is 40435FWL7.

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