New Issue: HSBC prices $312,000 buffered accelerated market participation notes on S&P, Russell

By William Gullotti

Buffalo, N.Y., April 8 – HSBC USA Inc. priced $312,000 of 0% buffered accelerated market participation securities due Oct. 5, 2023 tied to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any index gain, up to a maximum payout of par plus 27%.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered accelerated market participation securities
Underlying indexes:	S&P 500 index, Russell 2000 index
Amount:	$312,000
Maturity:	Oct. 5, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.5 times any index gain, capped at par plus 27%; par if index falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial levels:	4,530.41 for S&P, 2,070.125 for Russell
Buffer level:	90% of initial levels
Pricing date:	March 31
Settlement date:	April 5
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40439JK38

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