New Issue: HSBC sells $1.11 million buffered Accelerated Market Participation Securities on Dow, S&P

By William Gullotti

Buffalo, N.Y., April 27 – HSBC USA Inc. priced $1.11 million of 0% buffered Accelerated Market Participation Securities due April 29, 2024 tied to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 150% of any index gain, up to a maximum payout of par plus 31%.

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, Dow Jones industrial average
Amount:	$1,114,000
Maturity:	April 29, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at par plus 31%; par if index falls by up to 10%; 1% loss for each 1% decline beyond 10%
Initial levels:	4,271.78 for S&P, 33,811.4 for Dow
Buffer level:	90% of initial levels
Pricing date:	April 22
Settlement date:	April 27
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40439JS55

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