New Issue: HSBC prices $10.16 million trigger PLUS due 2020 linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 4 – HSBC USA Inc. priced $10.16 million of 0% trigger Performance Leveraged Upside Securities due April 3, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange.

If the final index level is greater than the initial index level, the payout at maturity will be par of $10 plus 140.35% of the index return. If the index declines but finishes at or above the trigger level, 75% of the initial index level, the payout will be par. If the index finishes below the trigger level, investors will lose 1% for every 1% that the index declines from its initial level.

HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.

Issuer:	HSBC USA Inc.
Issue:	Trigger Performance Leveraged Upside Securities
Underlying index:	S&P 500
Amount:	$10,156,030
Maturity:	April 3, 2020
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than initial index level, par plus 140.35% of index return; if index declines but closes at or above trigger level, par; if final index level is less than trigger level, full exposure to decline from initial index level
Initial index level:	2,059.74
Trigger level:	1,544.81, 75% of initial level
Pricing date:	March 31
Settlement date:	April 5
Agent:	HSBC Securities (USA) Inc.
Distribution:	Morgan Stanley Wealth Management
Fees:	2.5%
Cusip:	40434N499

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