New Issue: HSBC prices $7.16 million 0% three-year trigger gears linked to S&P 500

By Susanna Moon

Chicago, Nov. 7 – HSBC USA Inc. priced $7.16 million of 0% trigger gears due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par of $10 plus the double the gain up to a maximum return of 33.5%.

If the index falls by up to the 75% downside threshold level, 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 asset:	S&P 500 index
Amount:	$7,162,470
Maturity:	Oct. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	2 times any index gain, capped at 33.5%; if index falls by up to 25%, par; otherwise, 1% loss per 1% decline
Initial level:	2,658.69
Trigger level:	1,994.02, 75% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40436A206

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