New Issue: HSBC prices $200,000 market plus notes linked to the Euro Stoxx 50

By Emma Trincal

New York, Sept. 3 – HSBC USA Inc. priced $200,000 of 0% market plus notes due Sept. 2, 2025 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the final share price is less than the initial share price by more than 25%.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of (a) 142% of the index return and (b) zero. If a knock-out event has occurred, investors will lose 1% for every 1% that the final share price is less than the initial share price.

HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the placement agents.

Issuer:	HSBC USA Inc.
Issue:	Market plus notes
Underlying index:	Euro Stoxx 50 index
Amount:	$200,000
Maturity:	Sept. 2, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus greater of 142% of index return and zero unless index falls by more than 25%, in which case exposure to index’s decline from initial level
Initial level:	3,315.54
Barrier level:	75% of initial level
Final level:	Average of index’s closing levels on five trading days ending Aug. 28, 2025
Pricing date:	Aug. 28
Settlement date:	Sept. 2
Agents:	HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	3%
Cusip:	40438CUC3

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