New Issue: HSBC sells $8.59 million bear Strategic Accelerated Redemption Securities on S&P

By William Gullotti

Buffalo, N.Y., Jan. 31 – HSBC USA Inc. priced $8.59 million of bear Strategic Accelerated Redemption Securities due Feb. 9, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at an annualized call premium of 32.8% if the closing level of the index is less than or equal to its initial level on any quarterly observation date after six months.

If the notes are not called, investors lose 1% for each 1% gain in the index.

BofA Securities, Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Bear Strategic Accelerated Redemption Securities
Underlying index:	S&P 500 index
Amount:	$8,594,000
Maturity:	Feb. 9, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If not called, 1% loss for each 1% gain of the index
Call:	At par plus 32.8% annualized if the closing level of the index is less than or equal to its initial value on any quarterly observation date after six months
Initial level:	4,060.43
Pricing date:	Jan. 26
Settlement date:	Feb. 2
Agent:	BofA Securities, Inc.
Fees:	1.25%
Cusip:	44328M666

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