New Issue: HSBC prices $280,000 buffered uncapped securities linked to S&P 500

By Marisa Wong

Morgantown, W.Va., July 29 – HSBC USA Inc. priced $280,000 of 0% buffered uncapped market participation securities due Jan. 29, 2021 tied 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 100% of the index return. Investors will receive par if the index falls by up to 21% and lose 1% for every 1% decline in the index beyond 21%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying index:	S&P 500 index
Amount:	$280,000
Maturity:	Jan. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	If index return is positive, par plus 100% of the index return; par if index falls by up to 21%; 1% loss for every 1% decline in index beyond 21%
Initial index level:	2,169.18
Pricing date:	July 26
Settlement date:	July 29
Underwriters:	HSBC Securities (USA) Inc.
Fees:	3.5%
Cusip:	40433URH1

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