New Issue: HSBC sells $4.04 million digital notes linked to S&P 500

By Marisa Wong

Los Angeles, July 13 – HSBC USA Inc. priced $4,038,000 of 0% digital notes due Aug. 25, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final level of the index is greater than or equal to the threshold level, 85% of the initial level, the payout at maturity will be $1,176.60 for each $1,000 of notes. Otherwise, investors will lose 1% for every 1% that the index declines beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Digital notes
Underlying index:	S&P 500 index
Amount:	$4,038,000
Maturity:	Aug. 25, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If the final index level is greater or equal to 85% of its initial level, $1,176.60 for each $1,000 of notes; otherwise, 1.1765% loss for every 1% decline beyond 15%
Initial index level:	3,083.76
Pricing date:	June 25
Settlement date:	July 2
Underwriter:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40438CMU2

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