New Issue: HSBC prices $3.72 million trigger PLUS due 2023 linked to Russell 2000

By Sarah Lizee

Olympia, Wash., Sept. 18 – HSBC USA Inc. priced $3.72 million of 0% trigger Performance Leveraged Upside Securities due Sept. 19, 2023 linked to the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 118.25% of the gain.

If the index falls by up to its 85% trigger level, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent. Morgan Stanley Wealth Management is handling distribution.

Issuer:	HSBC USA Inc.
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	Russell 2000 index
Amount:	$3,718,000
Maturity:	Sept. 19, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index gains, par plus 118.25% of return; if index falls by up to 15%, par; otherwise, 1% loss per 1% decline
Initial level:	1,721.719
Trigger level:	1,463.46115, 85% of initial level
Pricing date:	Sept. 14
Settlement date:	Sept. 19
Agent:	HSBC Securities (USA) Inc.
Distribution:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	40435X363

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