New Issue: HSBC prices $1.48 million capped trigger gears linked to S&P 500

By Sarah Lizee

Olympia, Wash., Oct. 1 – HSBC USA Inc. priced $1.48 million of 0% capped trigger gears due Sept. 30, 2021 linked to the S&P 500 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 of $10 plus two times the index return, subject to a maximum return of 35.85%. Investors will receive par if the index declines by 25% or less and be fully exposed to the index’s decline from its initial level if it declines by more than 25%.

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

Issuer:	HSBC USA Inc.
Issue:	Capped trigger gears
Underlying index:	S&P 500
Amount:	$1,479,880
Maturity:	Sept. 30, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than zero, par plus two times index return, subject to maximum return of 35.85%; par if index return is less than or equal to zero and final index level is greater than or equal to downside threshold; full exposure to index’s decline from initial level if index finishes below downside threshold
Initial index level:	2,915.56
Downside threshold:	2,186.67, 75% of initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435X280

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