By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – HSBC USA Inc. priced $590,000 of 0% dual directional barrier notes due Feb. 6, 2023 linked to the lesser performing of the iShares MSCI EAFE exchange-traded fund and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final level of each underlying is greater than its initial level, the payout at maturity will be par plus 175% of the lesser-performing underlying’s return.
If the final level of either underlying is less than or equal to its initial level but neither underlying finishes below its trigger value, 75% of its initial level, the payout will be par plus the absolute value of the lesser-performing underlying’s return.
If either underlying finishes below its trigger value, investors will lose 1% for every 1% that the lesser-performing underlying declines from its initial level.
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC USA Inc.
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| Issue: | Dual directional barrier securities
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| Underlyings: | iShares MSCI EAFE ETF and Euro Stoxx 50 index
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| Amount: | $590,000
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| Maturity: | Feb. 6, 2023
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If final level of each underlying is greater than initial level, par plus 175% of lesser-performing underlying’s return; if final level of either underlying is less than or equal to initial level but neither underlying finishes below trigger value, par plus absolute value of lesser-performing underlying’s return; if either underlying finishes below trigger value, 1% loss for every 1% that lesser-performing underlying declines from initial level
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| Initial levels: | $67.48 for ETF and 3,640.91 for index
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| Trigger values: | $50.61 for ETF and 2,730.6825 for index, or 75% of initial levels
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| Pricing date: | Jan. 31
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| Settlement date: | Feb. 5
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Cusip: | 40435UY65
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