New Issue: HSBC prices $1.33 million digital barrier notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 8 – HSBC USA Inc. priced $1.33 million of 0% digital barrier notes due April 3, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index closes above its initial level, the payout at maturity will be par plus the greater of the return of the index and the 38% digital return.

If the index falls by up to 40%, the payout will be par. Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital barrier notes
Underlying index:	S&P 500
Amount:	$1,328,000
Maturity:	April 3, 2025
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes above initial level, par plus greater of index return and 33% digital return; if index falls by up to 40%, par; otherwise, full exposure to decline
Initial level:	2,834.4
Pricing date:	March 29
Settlement date:	April 3
Agent:	HSBC Securities (USA) Inc.
Fees:	3.35%
Cusip:	40435UKC7

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