New Issue: HSBC sells $2 million buffered AMPS tied to S&P, Russell

By Kiku Steinfeld

Chicago, June 12 – HSBC USA, Inc. priced $2 million of 0% Buffered Accelerated Market Participation Securities due Aug. 23, 2023 linked to the lowest performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If each index return finishes above 87% of its initial value, the payout at maturity will be 1.3 times the return of the lesser performing index plus 13%, up to a cap of par plus 52%

Otherwise, investors will lose 1% for every 1% that the lesser-performing index declines beyond 13%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA, Inc.
Issue:	Buffered Accelerated Market Participation Securities
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$2,000,000
Maturity:	Aug. 23, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If each index return finishes above 87% of initial value, 1.3 times the return of lesser performing index plus 13%, to a cap of 52%; otherwise, investors will lose 1% for every 1% beyond 13%
Initial levels:	2,752.06 for S&P and 1,465.487 for Russell
Buffer levels:	2,339.251 for S&P and 1,245.66395 for Russell; 85% of initial levels
Pricing date:	May 23
Settlement date:	May 29
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.75%
Cusip:	40435UNZ3

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