New Issue: HSBC sells $4.18 million capped gears linked to Russell 2000

By Wendy Van Sickle

Columbus, Ohio, May 29 – HSBC USA Inc. priced $4.18 million of 0% capped gears due July 30, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than zero, the payout at maturity will be par plus 3 times the index return, subject to a maximum payout of par plus 18.75%. If the index return is less than zero, investors will have full exposure to the decline.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Capped gears
Underlying index:	Russell 2000
Amount:	$4,181,150
Maturity:	July 30, 2021
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 3 times any index gain, capped at par plus 18.75%; full exposure to any losses
Initial level:	1,393.074
Pricing date:	May 26
Settlement date:	May 29
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40438J718

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