New Issue: HSBC prices $2.2 million five-year leveraged notes tied to S&P, Russell

By Susanna Moon

Chicago, March 24 – HSBC USA Inc. priced $2.2 million of 0% leveraged performance securities due March 22, 2022 tied to the least performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index finishes at or above its initial level, the payout at maturity will be par plus 1.4 times the return of the worse performing index.

If either index falls, investors will lose 0.5% for each 1% decline of the worse performing index.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Leveraged performance securities
Underlying indexes:	S&P 500, Russell 2000
Amount:	$2.2 million
Maturity:	March 22, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	If each index gains, par plus 1.4 times return of worse performing index; otherwise, 0.5% loss per 1% decline of worse performing index
Initial levels:	2,378.25 for S&P, 1,391.524 for Russell
Pricing date:	March 17
Settlement date:	March 22
Agent:	HSBC Securities (USA) Inc.
Fees:	3.5%
Cusip:	40433UX35

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