New Issue: HSBC prices $5 million 12% contingent income barrier notes on stocks

By Wendy Van Sickle

Columbus, Ohio, April 18 – HSBC USA Inc. priced $5 million of contingent income barrier notes due April 21, 2025 linked to the common stocks of Apple Inc., Microsoft Corp. and Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 12%, paid monthly, if each underlying stock closes at or above its 60% barrier level on the related monthly observation date.

The payout at maturity will be par if the worst performing stock ends at or above its 60% barrier value. Otherwise investors will lose 1% for every 1% that the worst performing stock declines.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Contingent income barrier notes
Underlying stocks:	Apple Inc., Microsoft Corp. and Intel Corp.
Amount:	$5 million
Maturity:	April 21, 2025
Coupon:	12%, paid monthly, if each underlying stock closes at or above its 60% barrier level on the related monthly observation date
Price:	Par
Payout at maturity:	If worst performing stock finishes at or above the barrier level par; 1% loss for every 1% that worst performing stock declines if it ends below barrier value
Initial levels:	$167.78 for Apple, $37.20 for Intel, $423.26 for Microsoft
Coupon barriers:	$100.668 for Apple, $22.32 for Intel, $253.956 for Microsoft, 60% of initial levels
Barrier levels:	$100.668 for Apple, $22.32 for Intel, $253.956 for Microsoft, 60% of initial levels
Pricing date:	April 10
Settlement date:	April 17
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40447A2M5

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