HSBC plans five-year market-linked contingent buffer notes on Dow

By Susanna Moon

Chicago, Sept. 12 – HSBC USA Inc. plans to price 0% market-linked securities with upside participation and contingent downside due Oct. 3, 2022 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 110% to 120% of any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 35% and will be fully exposed to any losses if the index falls by more than the contingent buffer.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Sept. 28.

The Cusip number is 40435FFY8.

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