New Issue: HSBC prices $1.13 million five-year buffered notes linked to S&P 500

By Susanna Moon

Chicago, May 27 – HSBC USA Inc. priced $1.13 million of 0% buffered uncapped market participation securities due May 27, 2021 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any index gain.

Investors will receive par if the index falls by up to 25% and will lose 1% for every 1% decline beyond 25%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying index:	S&P 500
Amount:	$1,128,000
Maturity:	May 27, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index falls by up to 25%; 1% loss for every 1% decline beyond 25%
Initial level:	2,052.32
Pricing date:	May 20
Settlement date:	May 27
Underwriters:	HSBC Securities (USA) Inc.
Fees:	3%
Cusip:	40433ULP9

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