New Issue: HSBC sells $2.52 million daily observation barrier absolute return notes on S&P

By Emma Trincal

New York, Aug. 21 – HSBC USA Inc. priced $2.52 million of 0% barrier absolute return market-linked notes with daily barrier observation due Aug. 20, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A barrier event occurs if the closing level of the index is at or above 127.5% of its initial level or below its initial level by more than 20% on any day during the life of the notes.

If a barrier event has occurred, the payout at maturity will be par plus 5%.

If a barrier event has not occurred, the payout will be par plus the absolute value of the index return, subject to a floor of par plus 5%.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Barrier absolute return market-linked notes with daily barrier observation
Underlying index:	S&P 500 index
Amount:	$2,517,000
Maturity:	Aug. 20, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If a barrier event has occurred, par plus 5%, otherwise, par plus absolute value of the index return, subject to a floor of par plus 5%; barrier event occurs if index closes above upper barrier or below lower barrier on any trading day during life of notes
Initial index level:	4,437.86
Upper barrier:	5,658.27, 127.5% of initial level
Lower barrier:	3,550.29, 80% of initial level
Pricing date:	Aug. 15
Settlement date:	Aug. 18
Agent:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40447AJR6

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