New Issue: HSBC prices $3.51 million barrier enhanced participation notes on S&P

By Marisa Wong

Morgantown, W.Va., April 10 – HSBC USA Inc. priced $3.51 million of 0% barrier enhanced participation notes due Sept. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 124% of the index gain. Investors will receive par if the index falls by up to 25% and will be fully exposed to declines from the initial index level if the index falls by more than 25%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier enhanced participation notes
Underlying index:	S&P 500
Amount:	$3,513,000
Maturity:	Sept. 30, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 124% of gain; par if index falls by up to 25%; full exposure to declines from initial index level if index falls by more than 25%
Initial level:	2,358.57
Pricing date:	March 28
Settlement date:	March 31
Agent:	HSBC Securities (USA) Inc.
Fees:	2.75%
	Cusip:	40433UX43

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