New Issue: HSBC prices $7.44 million trigger performance notes tied to Russell

By Toni Weeks

San Luis Obispo, Calif., March 28 - HSBC USA Inc. priced $7.44 million of 0% trigger performance securities due March 28, 2024 linked to the Russell 2000 index, according to a 424B2 with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 134% of the index return.

Investors will receive par if the index falls by 40% or less and will be fully exposed to losses from the initial level if it falls by more than 40%.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger performance securities
Underlying index:	Russell 2000
Amount:	$7,441,560
Maturity:	March 28, 2024
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 134% of any index gain; par if index falls by 40% or less; full exposure to losses if index finishes below trigger level
Initial index level:	1,155.4862
Trigger level:	693.2917, 60% of initial level
Pricing date:	March 26
Settlement date:	March 31
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	5%
Cusip:	40434C303

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