New Issue: HSBC sells $10.73 million capped gears linked to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, Jan. 30 – HSBC USA Inc. priced $10.73 million of 0% capped gears due March 31, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum return of 13%. If the index return is less than zero, investors will have full exposure to the decline.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying index:	Russell 2000
Amount:	$10,729,950
Maturity:	March 31, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any index gain, return capped at 13%; full exposure to any losses
Initial level:	1,658.314
Pricing date:	Jan. 28
Settlement date:	Jan. 31
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40438B277

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