New Issue: HSBC sells $3.42 million three-year buffered uncapped notes tied to S&P

By Susanna Moon

Chicago, March 2 – HSBC USA Inc. priced $3.42 million of 0% buffered uncapped market participation securities due Feb. 28, 2020 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 15% and will lose 1% for each 1% decline beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Buffered uncapped market participation securities
Underlying index:	S&P 500
Amount:	$3,421,000
Maturity:	Feb. 28, 2020
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain; par if index falls by up to 15%; 1% loss for each 1% decline beyond 15%
Initial level:	2,363.81
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40433UP34

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