New Issue: HSBC sells $2.36 million three-year capped trigger gears tied to S&P

By Sarah Lizee

Olympia, Wash., March 28 – HSBC USA Inc. priced $2.36 million of 0% trigger gears due March 31, 2022 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 double any index gain, up to a maximum return of 38.7%.

If the index finishes falls by up to 25%, 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:	$2,358,570
Maturity:	March 31, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 2 times any index gain, capped at 38.7%; if index falls by up to 25%, par; otherwise, 1% for each 1% decline
Initial level:	2,818.46
Downside threshold:	2,113.85, 75% of initial level
Pricing date:	March 26
Settlement date:	March 29
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40436A149

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