New Issue: HSBC prices $20.66 million digital index-linked notes tied to S&P 500

By William Gullotti

Buffalo, N.Y., Sept. 30 – HSBC USA Inc. priced $20.66 million of 0% digital index-linked notes due Jan. 18, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above 82.5% of its initial level, the payout at maturity will be par plus 14.85%.

Otherwise, investors will lose 1.2121% for each 1% decline of the index beyond the 17.5% buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital index-linked notes
Underlying index:	S&P 500 index
Amount:	$20.66 million
Maturity:	Jan. 18, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the index gains or falls by not more than 17.5%, par plus 14.85%; otherwise, 1.2121% loss for each 1% decline of the index beyond 17.5%
Initial level:	3,647.29
Downside threshold:	82.5% of initial level
Pricing date:	Sept. 27
Settlement date:	Oct. 4
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40441XPC8

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