New Issue: HSBC prices $712,000 buffered PLUS tied to iShares MSCI Emerging Markets

By Wendy Van Sickle

Columbus, Ohio, May 27 – HSBC USA Inc. priced $712,000 of 0% buffered Performance Leveraged Upside Securities due Dec. 5, 2022 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF return is positive, the payout at maturity will be par plus 200% of the ETF return, up to $12.00 per $10 PLUS. Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

HSBC Securities (USA) LLC is the agent with Morgan Stanley Smith Barney LLC as distributor.

Issuer:	HSBC USA Inc.
Issue:	Buffered Performance Leveraged Upside Securities
Underlying ETF:	iShares MSCI Emerging Markets
Amount:	$712,000
Maturity:	Dec. 5, 2022
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If ETF return is positive, par plus 200% of ETF return, up to $12.00 per PLUS; par if ETF declines by 10% or less; 1% loss for every 1% that ETF declines beyond 10%
Initial level:	$36.43
Buffer level:	90% of initial level
Pricing date:	May 22
Settlement date:	May 28
Agent:	HSBC Securities (USA) LLC with Morgan Stanley Smith Barney LLC as distributor
Fees:	3%
Cusip:	40438J734

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