New Issue: HSBC prices $3.23 million capped trigger in-step securities tied to Russell 2000

By Marisa Wong

Morgantown, W.Va., June 5 – HSBC USA Inc. priced $3.23 million of 0% capped trigger in-step securities due Nov. 29, 2019 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is greater than or equal to the downside threshold, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of the step return of 10% and the index return, subject to a maximum return of 26.5%. If the final index level is less than the downside threshold, investors will have one-to-one exposure to the index’s decline from its initial level.

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

Issuer:	HSBC USA Inc.
Issue:	Capped trigger in-step securities
Underlying index:	Russell 2000 index
Amount:	$3,232,450
Maturity:	Nov. 29, 2019
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above downside threshold, par plus greater of 10% and index return; capped at 26.5%; otherwise, full exposure to losses
Initial index level:	1,383.388
Downside threshold:	1,106.710, 80% of initial level
Pricing date:	May 25
Settlement date:	May 31
Agents:	HSBC Securities (USA) Inc. and UBS Financial Services Inc.
Fees:	2.25%
Cusip:	40435D649

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