HSBC to price barrier enhanced participation notes on Dow, Russell

New York, April 26 – HSBC USA Inc. plans to price 0% barrier enhanced participation notes due May 30, 2023 linked to the Dow Jones industrial average and the Russell 200 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus at least 1.35 times any gain of the worse performing index. The exact upside participation rate will be set at pricing.

Investors will receive par if either index falls by up to 50% and will be fully exposed to any losses of the worse performing index if it finishes below the 50% barrier level.

HSBC Securities (USA) Inc. is the agent.

The notes will price on May 24 and settle on May 30.

The Cusip number is 40435FZL4.

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