New Issue: HSBC sells $725,000 buffered accelerated market participation notes on biotech ETF

By Taylor Fox

New York, Nov. 2 – HSBC USA Inc. priced $725,000 of 0% buffered accelerated market participation securities due March 30, 2023 linked to the SPDR S&P biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is positive, the payout at maturity will be par plus 200% of the fund return, capped at par plus 32.2%.

Investors will receive par if the fund falls by 10% or less and will lose 1% for every 1% decline beyond the 10% buffer.

HSBC USA Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered accelerated market participation securities
Underlying fund:	SPDR S&P biotech ETF
Amount:	$725,000
Maturity:	March 30, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 200% of fund return, capped at par plus 32.2%; par if fund declines by 10% or less; 1% loss for every 1% fund declines beyond 10% buffer
Initial index level:	$110.81
Buffer level:	90% of initial level
Pricing date:	Sept. 25
Settlement date:	Sept. 30
Underwriter:	HSBC Securities (USA) Inc.
Fees:	2.25%
Cusip:	40438CUZ2

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