New Issue: HSBC sells $52,000 buffered uncapped market participation securities on S&P, Russell

By William Gullotti

Buffalo, N.Y., July 7 – HSBC USA Inc. priced $52,000 of 0% buffered uncapped market participation securities due Jan. 8, 2024 tied to the least performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the least-performing index return is positive, the payout at maturity will be par plus 1.17 times the least-performing index return. Investors will receive par if the least-performing index falls by up to 5% and will lose 1% for every 1% decline in the least-performing index beyond 5%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$52,000
Maturity:	Jan. 8, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If least-performing index return is positive, par plus 1.17 times least-performing index return; par if least-performing index falls by up to buffer; 1% loss for every 1% decline in least-performing index beyond buffer
Initial index levels:	4,297.5 for S&P, 2,310.549 for Russell
Buffer levels:	95% of initial levels
Pricing date:	June 30
Settlement date:	July 6
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40439JCU7

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