New Issue: HSBC prices $3.74 million capped gears linked to SPDR S&P MidCap 400

By Wendy Van Sickle

Columbus, Ohio, Oct. 31 – HSBC USA Inc. priced $3.74 million of 0% capped gears due Dec. 29, 2023 linked to the SPDR S&P MidCap 400 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any ETF gain, up to a maximum return of par plus 25.35%.

Investors will be exposed to any losses.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying ETF:	SPDR S&P MidCap 400 ETF trust
Amount:	$3,735,000
Maturity:	Dec. 29, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus three times any ETF gain, capped at par plus 25.35%; 1% loss per 1% decline
Initial level:	$436.13
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agents:	UBS Financial Services Inc. and HSBC USA Inc.
Fees:	2%
Cusip:	40439N148

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