New Issue: HSBC priced $23.06 million of dual directional trigger PLUS linked to Euro Stoxx

By Toni Weeks

San Luis Obispo, Calif., May 2 - HSBC USA Inc. priced $23.06 million of 0% dual directional trigger Performance Leveraged Upside Securities due Nov 5, 2019 linked to the Euro Stoxx 50 index, according to an FWP with the Securities and Exchange Commission.

If the index finishes above its initial level, the payout at maturity will be par plus 150% of the gain.

If the index stays flat or falls and finishes at or above the 65% trigger level, the payout will be par plus the absolute value of the return.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Wealth Management as dealer.

Issuer:	HSBC USA Inc.
Issue:	Dual directional trigger Performance Leveraged Upside Securities
Underlying index:	Euro Stoxx 50
Amount:	$23,056,750
Maturity:	Nov. 5, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than initial index level, par plus 150% of index return; if final index level is less than or equal to initial index level but greater than or equal to trigger level, par plus absolute value of index return; if final index level is less than trigger level, full exposure to decline from initial index level
Initial index level:	3,198.39
Trigger level:	2,078.95, 65% of initial level
Pricing date:	April 30
Settlement date:	May 5
Agent:	HSBC Securities (USA) Inc. with Morgan Stanley Wealth Management as dealer
Fees:	3.5%
Cusip:	40434C782

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