New Issue: HSBC prices $1.01 million market plus notes linked to S&P 500

By Wendy Van Sickle

Columbus, Ohio, April 5 – HSBC USA Inc. priced $1.01 million of 0% market plus notes due April 4, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

A knock-out event will occur if the final index level is less than the initial index level by more than 25%.

If a knock-out event has not occurred, the payout at maturity will be par plus the greater of zero and 140% of the index return. If a knock-out event has occurred, investors will lose 1% for every 1% that the final index level is less than the initial index level.

HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the agents.

Issuer:	HSBC USA Inc.
Issue:	Market plus notes
Underlying index:	S&P 500
Amount:	$1,011,000
Maturity:	April 4, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus greater of 140% of index return and zero unless index falls by more than 25%, in which case exposure to index’s decline from initial level
Initial level:	2,834.4
Final level:	Average of index’s closing levels on five trading days ending April 1, 2024
Pricing date:	March 29
Settlement date:	April 3
Agents:	HSBC Securities (USA) Inc., JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC
Fees:	3%
Cusip:	40435ULC6

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