New Issue: HSBC prices $12.42 million trigger PLUS linked to S&P 500 index

By Wendy Van Sickle

Columbus, Ohio, Dec. 29 – HSBC USA Inc. priced $12.42 million of 0% trigger Performance Leveraged Upside Securities due Jan. 3, 2024 linked 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 of $10 plus 131.45% of the index return. Investors will receive par if the index declines by 35% or less and will be fully exposed to the index decline from its initial share price if it falls by more than 35%.

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:	$12,416,770
Maturity:	Jan. 3, 2024
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If index level is greater than initial level, par plus 131.45% of index return; if final index level is less than or equal to initial level but greater than or equal to trigger level, par; if final index level is less than trigger level, exposure to decline from initial share price
Initial index level:	2,687.54
Trigger level:	1,746.901, 65% of initial level
Pricing date:	Dec. 28
Settlement date:	Jan. 3
Agent:	HSBC Securities (USA) Inc.
Distribution:	Morgan Stanley Wealth Management
Fees:	3.5%
Cusip:	40435J836

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