New Issue: HSBC sells $2.85 million barrier enhanced participation notes tied to S&P 500, Russell

By Susanna Moon

Chicago, Nov. 28 – HSBC USA Inc. priced $2.85 million of 0% barrier enhanced participation notes due Nov. 22, 2022 linked to the Russell 200 index and the S&P 500 index, according to a 414B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.7 times any gain of the worse performing index.

Investors will receive par if either index falls by up to 40% and will be fully exposed to any losses of the worse performing index if it finishes below the 60% barrier level.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Barrier enhanced participation notes
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$2,848,000
Maturity:	Nov. 22, 2022
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.7 times any gain of the lesser performing index; par if the lesser-performing index falls by up to 40%; full exposure to the decline of the lesser performing index if it finishes below 60% barrier level
Initial levels:	2,578.85 for S&P, 1,492.822 for Russell
Barrier levels:	60% of initial levels
Pricing date:	Nov. 17
Settlement date:	Nov. 22
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	40435FLP0

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