New Issue: HSBC sells $104,000 buffered accelerated market participation notes on biotech ETF

By Kiku Steinfeld

Chicago, July 9 – HSBC USA Inc. priced $104,000 of 0% buffered Accelerated Market Participation Securities due May 28, 2024 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 150% of the fund return, capped at par plus 23.6%.

Investors will receive par if the fund falls by 15% or less and will lose 1% for every 1% decline beyond the 15% buffer.

HSBC Securities USA Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered Accelerated Market Participation Securities
Underlying fund:	SPDR S&P Biotech ETF
Amount:	$104,000
Maturity:	May 28, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 150% of fund return, capped at par plus 23.6%; par if fund declines by 15% or less; 1% loss for every 1% fund declines beyond 15% buffer
Initial index level:	$125.84
Buffer level:	85% of initial level
Pricing date:	May 24
Settlement date:	May 27
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40438C6Z9

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