New Issue: HSBC sells $779,000 digital barrier notes due 2023 linked to S&P 500

By Sarah Lizee

Olympia, Wash., Aug. 28 – HSBC USA Inc. priced $779,000 of 0% digital barrier notes due Aug. 31, 2023 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes at or above its initial level, the payout at maturity will be par plus the greater of the gain and the minimum upside return of 40%.

If the index falls by up to 30%, the payout will be par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital barrier notes
Underlying index:	S&P 500
Amount:	$779,000
Maturity:	Aug. 31, 2023
Coupon:	0%
Price:	Par
Payout at maturity:	If index finishes at or above its initial level, par plus the greater of the index return and 40%; if index falls by up to 30%, par; otherwise, full exposure to losses
Initial level:	2,874.69
Pricing date:	Aug. 24
Settlement date:	Aug. 31
Agent:	HSBC Securities (USA) Inc.
Fees:	None
Cusip:	40435FS32

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