New Issue: HSBC prices $6.4 million capped trigger gears tied to S&P 500

By Susanna Moon

Chicago, Nov. 3 – HSBC USA Inc. priced $1 million of 0% capped trigger gears due Oct. 30, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, up to a maximum gain of 24.5%.

If the index finishes falls by up to 25%, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

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

Issuer:	HSBC USA Inc.
Issue:	Capped trigger gears
Underlying index:	S&P 500 index
Amount:	$6,395,000
Maturity:	Oct. 30, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus double any index gain, capped at 24.5%; if index falls by up to 25%, par; otherwise, 1% for each 1% decline
Initial level:	2,560.40
Downside threshold:	1,920.30, 75% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	40435H475

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