New Issue: HSBC sells $903,000 callable contingent income barrier notes on S&P, Nasdaq

By Kiku Steinfeld

Chicago, March 29 – HSBC USA Inc. priced $903,000 of callable contingent income barrier notes due March 8, 2024 linked to the least performing of the Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Each month, the notes will pay a contingent coupon at an annual rate of 11.45% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that month.

The notes are callable monthly at par after six months.

The payout at maturity will be par unless either index finishes below its 70% trigger level, in which case investors will be fully exposed to the decline of the lowest performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable contingent income barrier notes
Underlying indexes:	Nasdaq-100 index, S&P 500 index
Amount:	$903,000
Maturity:	March 8, 2024
Coupon:	11.45%, payable monthly if each index closes at or above coupon barrier on determination date for that month
Price:	Par
Payout at maturity:	If each index finishes at or above trigger level, par; otherwise, exposure to decline of worst-performing index
Call:	Callable monthly at par after six months
Initial levels:	3,963.51 for S&P and 11,637.50 for Nasdaq
Coupon barriers:	2,774.457 for S&P and 8,146.25 for Nasdaq; 70% of initial levels
Trigger levels:	2,774.457 for S&P and 8,146.25 for Nasdaq; 70% of initial levels
Pricing date:	Dec. 8
Settlement date:	Dec. 13
Agent:	HSBC Securities (USA) Inc.
Fees:	0%
Cusip:	40441XXW5

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