New Issue: HSBC prices $1.69 million capped buffer gears on S&P 500

By William Gullotti

Buffalo, N.Y., Jan. 6 – HSBC USA Inc. priced $1.69 million of 0% capped buffer gears due Nov. 30, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of par plus 18.5%.

If the index declines up to 10%, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline below 10%.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped buffer gears
Underlying index:	S&P 500 index
Amount:	$1,694,000
Maturity:	Nov. 30, 2023
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus two times any index gain, capped at par plus 18.5%; if the index declines up to 10%, par; otherwise, 1% loss per 1% decline below 10%
Initial level:	4,701.46
Buffer level:	4,231.314; 90% of initial level
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agents:	UBS Financial Services Inc. and HSBC USA Inc.
Fees:	None
Cusip:	40439N106

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