New Issue: HSBC sells $10.90 million five-year trigger gears tied to S&P 500

By Marisa Wong

Morgantown, W.Va., May 10 – HSBC USA Inc. priced $10,897,390 of 0% trigger gears due April 30, 2024 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 1.356 times any index gain.

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:	$10,897,390
Maturity:	April 30, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 1.356 times any index gain; if index falls by up to 25%, par; otherwise, 1% for each 1% decline
Initial level:	2,926.17
Downside threshold:	2,194.63, 75% of initial level
Pricing date:	April 25
Settlement date:	April 30
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	3.5%
Cusip:	40436B808

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