New Issue: HSBC sells $6.53 million of trigger gears on S&P 500 index

By Devika Patel

Knoxville, Tenn., Oct. 28 – HSBC USA Inc. priced $6,533,700 of 0% trigger gears due Oct. 29, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the initial level, the payout at maturity will be par plus the upside gearing of 1.52 times the gain.

Investors will receive par if the index declines by up to 25% and will lose 1% for each 1% decline if the index falls by more than 25%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger gears
Underlying index:	S&P 500
Amount:	$6,533,700
Maturity:	Oct. 29, 2021
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 1.52 times any index gain; par if index declines by up to 25%; otherwise, 1% loss for each 1% decline
Initial index level:	2,139.43
Trigger value:	1,604.57, 75% of initial level
Pricing date:	Oct. 26
Settlement date:	Oct. 31
Agent:	HSBC Securities (USA) Inc.
Fees:	3.5%
Cusip:	40435B585

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