New Issue: HSBC sells $10.80 million barrier enhanced participation notes on S&P, Russell

New York, July 24 – HSBC USA Inc. priced $10.80 million of 0% barrier enhanced participation notes due July 25, 2024 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 150% of the gain of the worse performing index.

Investors will receive par if each index falls by no more than 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier enhanced participation notes
Underlying indexes:	S&P 500, Russell 2000
Amount:	$10,798,000
Maturity:	July 25, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.50 times any gain of the lesser performing index; par if worse performing index falls by up to 50%; 1% loss per 1% decline of worse performing index if it falls by more than 50%
Initial index levels:	2,801.83 for S&P, 1,696.808 for Russell
Barrier levels:	50% of initial levels
Pricing date:	July 20
Settlement date:	July 25
Agent:	HSBC Securities (USA) Inc.
Fees:	3.25%
Cusip:	40435FP27

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