New Issue: HSBC prices $1.69 million buffered PLUS tied to S&P 500

By William Gullotti

Buffalo, N.Y., Feb. 6 – HSBC USA Inc. priced $1.69 million of 0% buffered Performance Leveraged Upside Securities due May 9, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum payout of par plus 17.45%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as distributor.

Issuer:	HSBC USA Inc.
Issue:	Buffered Performance Leveraged Upside Securities
Underlying index:	S&P 500 index
Amount:	$1,685,000
Maturity:	May 9, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the index return is positive, the payout at maturity will be par plus 200% of the index return, capped at 17.45%; investors will receive par if the index declines by 10% or less; otherwise, 1% loss for every 1% decline beyond 10%
Initial level:	4,179.76
Buffer level:	90% of initial level
Pricing date:	Feb. 2
Settlement date:	Feb. 9
Agents:	HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as distributor
Fees:	None
Cusip:	40441XL65

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